Performance Shipping (NASDAQ:PSHG) Stock Price Down 3.4% – Should You Sell?

Performance Shipping Inc. (NASDAQ:PSHG) shares traded down 3.4% on Thursday . The stock traded as low as $2.26 and last traded at $2.26. 145,174 shares were traded during mid-day trading, a decline of 24% from the average session volume of 191,858 shares. The stock had previously closed at $2.34.

Analyst Ratings Changes

Several brokerages recently commented on PSHG. Wall Street Zen raised shares of Performance Shipping to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Shipping in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Performance Shipping Trading Down 0.9%

The company has a debt-to-equity ratio of 0.69, a quick ratio of 7.35 and a current ratio of 7.40. The stock has a market capitalization of $27.84 million, a price-to-earnings ratio of 1.75 and a beta of -0.33. The business has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $2.09.

Performance Shipping (NASDAQ:PSHG) last posted its earnings results on Wednesday, March 4th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Performance Shipping had a return on equity of 15.90% and a net margin of 59.37%.The company had revenue of $26.16 million during the quarter, compared to the consensus estimate of $23.57 million.

Institutional Trading of Performance Shipping

A hedge fund recently bought a new stake in Performance Shipping stock. Citadel Advisors LLC bought a new position in shares of Performance Shipping Inc. (NASDAQ:PSHG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 110,439 shares of the company’s stock, valued at approximately $209,000. Citadel Advisors LLC owned approximately 0.89% of Performance Shipping as of its most recent SEC filing. 19.90% of the stock is owned by institutional investors and hedge funds.

About Performance Shipping

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.