Performance Shipping Inc. (NASDAQ:PSHG) Sees Significant Drop in Short Interest

Performance Shipping Inc. (NASDAQ:PSHGGet Rating) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 6,300 shares, a decrease of 54.7% from the March 31st total of 13,900 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 51,600 shares, the days-to-cover ratio is presently 0.1 days.

Shares of Performance Shipping stock traded down $0.01 on Friday, reaching $2.62. 1 shares of the stock were exchanged, compared to its average volume of 45,520. The firm has a market capitalization of $13.32 million, a PE ratio of -1.36 and a beta of 0.01. Performance Shipping has a 1-year low of $2.45 and a 1-year high of $6.14. The business has a fifty day moving average price of $2.98 and a two-hundred day moving average price of $3.80. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48.

Performance Shipping (NASDAQ:PSHGGet Rating) last released its quarterly earnings data on Friday, February 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.02). Performance Shipping had a negative return on equity of 10.67% and a negative net margin of 26.60%. The business had revenue of $5.50 million during the quarter, compared to analysts’ expectations of $5.10 million. Research analysts expect that Performance Shipping will post -0.07 EPS for the current year.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Performance Shipping from a “sell” rating to a “hold” rating in a report on Monday. HC Wainwright dropped their target price on Performance Shipping from $11.00 to $6.00 in a report on Wednesday, March 2nd.

Several hedge funds have recently bought and sold shares of PSHG. Wellington Shields Capital Management LLC purchased a new stake in shares of Performance Shipping in the 4th quarter worth about $37,000. Citadel Advisors LLC purchased a new stake in shares of Performance Shipping in the fourth quarter valued at about $79,000. Finally, Ruffer LLP grew its position in shares of Performance Shipping by 201.6% in the fourth quarter. Ruffer LLP now owns 105,572 shares of the company’s stock valued at $405,000 after purchasing an additional 70,572 shares during the last quarter. Institutional investors own 4.32% of the company’s stock.

Performance Shipping Company Profile (Get Rating)

Performance Shipping Inc, through its subsidiaries, provides shipping transportation services through its ownership of tanker vessels worldwide. As of April 7, 2021, it owned and operated five Aframax tanker vessels with a combined carrying capacity of 546,094 dwt. The company was incorporated in 2010 and is based in Athens, Greece.

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