Pingtan Marine Enterprise (NASDAQ:PME) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Pingtan Marine Enterprise (NASDAQ:PMEGet Rating) in a research report issued on Tuesday. The brokerage set a “sell” rating on the stock.

Shares of Pingtan Marine Enterprise stock opened at $0.66 on Tuesday. Pingtan Marine Enterprise has a 52-week low of $0.42 and a 52-week high of $1.20. The stock has a market cap of $56.72 million, a PE ratio of -0.59 and a beta of -1.05. The firm has a fifty day simple moving average of $0.64. The company has a quick ratio of 0.23, a current ratio of 0.55 and a debt-to-equity ratio of 2.94.

Several institutional investors have recently made changes to their positions in PME. Virtu Financial LLC raised its holdings in Pingtan Marine Enterprise by 123.9% in the 4th quarter. Virtu Financial LLC now owns 81,577 shares of the company’s stock worth $47,000 after purchasing an additional 45,144 shares in the last quarter. Citadel Advisors LLC raised its holdings in Pingtan Marine Enterprise by 30.7% in the 3rd quarter. Citadel Advisors LLC now owns 112,292 shares of the company’s stock worth $84,000 after purchasing an additional 26,345 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Pingtan Marine Enterprise by 51.0% in the 4th quarter. Geode Capital Management LLC now owns 62,069 shares of the company’s stock worth $35,000 after purchasing an additional 20,962 shares in the last quarter. 0.43% of the stock is owned by institutional investors.

About Pingtan Marine Enterprise (Get Rating)

Pingtan Marine Enterprise Ltd., together with its subsidiaries, engages in the ocean fishing business. The company catches a range of fish species, such as squid, ribbon fish, croaker fish, and cuttle fish. As of December 31, 2020, it owned 51 squid jigging vessels, 26 trawlers, 25 seine vessels, 13 drifters, 4 longline fishing vessels, and 3 transport vessels, as well as had operating license rights to 20 drifters.

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