Performance Shipping (NASDAQ:PSHG) Issues Earnings Results

Performance Shipping (NASDAQ:PSHG) issued its quarterly earnings data on Tuesday. The company reported $0.26 earnings per share for the quarter, Zacks reports. Performance Shipping had a return on equity of 15.90% and a net margin of 59.37%.

Performance Shipping Stock Up 2.7%

NASDAQ PSHG traded up $0.05 during trading on Tuesday, hitting $1.70. The company’s stock had a trading volume of 17,423 shares, compared to its average volume of 103,624. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.22 and a quick ratio of 2.18. The company has a market cap of $21.07 million, a PE ratio of 1.32 and a beta of -0.11. The business’s 50 day simple moving average is $1.86 and its 200-day simple moving average is $2.06. Performance Shipping has a fifty-two week low of $1.52 and a fifty-two week high of $2.58.

Institutional Investors Weigh In On Performance Shipping

An institutional investor recently bought a new position in Performance Shipping stock. Citadel Advisors LLC bought a new position in shares of Performance Shipping Inc. (NASDAQ:PSHG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 110,439 shares of the company’s stock, valued at approximately $209,000. Citadel Advisors LLC owned 0.89% of Performance Shipping as of its most recent SEC filing. 19.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Performance Shipping from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Performance Shipping Company Profile

Performance Shipping Inc, incorporated in the Republic of the Marshall Islands and trading on NASDAQ under the ticker PSHG, is a publicly listed dry bulk shipping company. The company owns and operates a modern fleet of Supramax and Ultramax vessels, which are well-suited for the seaborne transportation of a wide range of dry bulk commodities. Performance Shipping’s vessels carry cargoes such as grains, coal, iron ore, steel products and fertilizer under medium‐ to long‐term time charter agreements with a diverse set of global charterers.

Since completing its initial public offering in late 2014, Performance Shipping has focused on disciplined growth through vessel acquisitions and the renewal of charter contracts to maintain steady cash flows.