PS International Group Ltd. (NASDAQ:PSIG) Stock Short Interest Rises 1,198.3%

PS International Group Ltd. (NASDAQ:PSIG) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 357,166 shares, an increase of 1,198.3% from the September 15th total of 27,510 shares. Based on an average daily trading volume, of 1,638,641 shares, the days-to-cover ratio is currently 0.2 days. Currently, 7.5% of the shares of the company are short sold.

PS International Group Stock Up 5.4%

PSIG stock traded up $0.26 during trading on Friday, reaching $5.10. The stock had a trading volume of 3,700,793 shares, compared to its average volume of 1,615,465. PS International Group has a 52 week low of $1.03 and a 52 week high of $12.00. The stock’s 50 day moving average is $2.77 and its two-hundred day moving average is $4.83.

Institutional Investors Weigh In On PS International Group

A hedge fund recently raised its position in PS International Group stock. Renaissance Technologies LLC lifted its holdings in PS International Group Ltd. (NASDAQ:PSIG) by 140.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,401 shares of the company’s stock after purchasing an additional 15,424 shares during the period. Renaissance Technologies LLC owned about 0.17% of PS International Group worth $162,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 29.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of PS International Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings cut shares of PS International Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

PS International Group Company Profile

PS International Group Limited (NASDAQ: PSIG) is a Hong Kong-based holding company focused on freight forwarding and logistics services. Through its operating subsidiaries, the company coordinates the movement of goods for customers using international transportation networks.

Its services are generally associated with ocean and air freight forwarding, shipment coordination, customs-related support, and other logistics activities. These services may include arranging transportation, managing shipping documentation, and coordinating cargo movements between shippers, carriers, and consignees.

The company serves customers involved in cross-border trade, with operations centered in Hong Kong and connections to international shipping and logistics markets.