Performance Shipping Inc. (NASDAQ:PSHG) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 4,300 shares, a decline of 27.1% from the March 31st total of 5,900 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 71,900 shares, the short-interest ratio is presently 0.1 days.
Shares of PSHG traded down $0.30 during mid-day trading on Tuesday, hitting $4.57. 200 shares of the company’s stock traded hands, compared to its average volume of 78,108. Performance Shipping has a 1 year low of $3.98 and a 1 year high of $8.80. The business has a 50-day simple moving average of $5.23.
Performance Shipping (NASDAQ:PSHG) last posted its earnings results on Friday, March 5th. The company reported ($0.51) earnings per share (EPS) for the quarter. The firm had revenue of $7.21 million during the quarter.
Separately, HC Wainwright started coverage on Performance Shipping in a research note on Monday, March 29th. They set a “buy” rating and a $11.00 target price on the stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marquette Asset Management LLC bought a new stake in shares of Performance Shipping during the fourth quarter valued at approximately $65,000. Credit Suisse AG bought a new stake in shares of Performance Shipping during the fourth quarter valued at approximately $138,000. Finally, Ruffer LLP bought a new stake in shares of Performance Shipping during the fourth quarter valued at approximately $161,000.
About Performance Shipping
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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