Pacific Basin Shipping Limited (OTCMKTS:PCFBY) Sees Significant Drop in Short Interest

Pacific Basin Shipping Limited (OTCMKTS:PCFBYGet Rating) saw a significant decline in short interest in May. As of May 15th, there was short interest totalling 3,800 shares, a decline of 69.8% from the April 30th total of 12,600 shares. Based on an average daily volume of 4,300 shares, the days-to-cover ratio is currently 0.9 days.

Separately, Zacks Investment Research cut shares of Pacific Basin Shipping from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 4th.

Shares of PCFBY traded up $0.17 during mid-day trading on Thursday, hitting $10.73. 250 shares of the company’s stock were exchanged, compared to its average volume of 2,514. Pacific Basin Shipping has a 52 week low of $6.68 and a 52 week high of $12.53. The stock’s 50-day simple moving average is $10.33 and its 200-day simple moving average is $9.12.

The company also recently disclosed a dividend, which was paid on Friday, May 20th. Investors of record on Thursday, April 21st were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, April 20th. This represents a yield of 16.3%.

Pacific Basin Shipping Company Profile (Get Rating)

Pacific Basin Shipping Limited, an investment holding company, provides dry bulk shipping services worldwide. It also offers shipping consulting, ocean shipping, crewing, secretarial, and agency and ship management services; and engages in the vessel owning and chartering, and convertible bonds issuing activities.

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