Performance Shipping (NASDAQ:PSHG) Stock Price Up 1.6%

Posted by Joseph Griffin on Sep 27th, 2024

Performance Shipping Inc. (NASDAQ:PSHG – Get Free Report) shares were up 1.6% during trading on Wednesday . The company traded as high as $1.97 and last traded at $1.93. Approximately 47,577 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 78,752 shares. The stock had previously closed at $1.90.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners initiated coverage on Performance Shipping in a research note on Monday, July 22nd. They set a “buy” rating and a $6.50 price objective for the company.

Read Our Latest Research Report on PSHG

Performance Shipping Trading Down 0.8 %

The company has a quick ratio of 5.56, a current ratio of 5.61 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $1.98 and its 200-day moving average price is $2.06. The stock has a market capitalization of $23.68 million, a PE ratio of 1.16 and a beta of -0.31.

Performance Shipping (NASDAQ:PSHG – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $20.51 million for the quarter. Performance Shipping had a return on equity of 24.02% and a net margin of 62.19%.

Institutional Investors Weigh In On Performance Shipping

Several large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in Performance Shipping in the 4th quarter worth about $56,000. Privium Fund Management UK Ltd bought a new position in shares of Performance Shipping during the 2nd quarter worth approximately $64,000. Cable Car Capital LLC purchased a new stake in shares of Performance Shipping during the 4th quarter valued at $120,000. Finally, Renaissance Technologies LLC raised its stake in Performance Shipping by 167.6% in the second quarter. Renaissance Technologies LLC now owns 142,284 shares of the company’s stock valued at $307,000 after buying an additional 89,109 shares during the last quarter. 19.90% of the stock is owned by institutional investors.