PS International Group Ltd. (NASDAQ:PSIG) Short Interest Up 399.3% in June

PS International Group Ltd. (NASDAQ:PSIG) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 392,439 shares, an increase of 399.3% from the June 15th total of 78,602 shares. Based on an average daily volume of 4,464,277 shares, the short-interest ratio is presently 0.1 days. Approximately 8.2% of the company’s shares are sold short.

PS International Group Price Performance

Shares of NASDAQ PSIG remained flat at $1.26 during mid-day trading on Monday. The company had a trading volume of 182,626 shares, compared to its average volume of 759,890. The stock has a 50 day moving average of $7.16 and a two-hundred day moving average of $6.08. PS International Group has a one year low of $1.03 and a one year high of $12.00.

Institutional Trading of PS International Group

An institutional investor recently bought a new stake in PS International Group stock. Renaissance Technologies LLC bought a new position in PS International Group Ltd. (NASDAQ:PSIG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,977 shares of the company’s stock, valued at approximately $54,000. Renaissance Technologies LLC owned 0.13% of PS International Group at the end of the most recent reporting period. 29.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSIG has been the topic of several research analyst reports. Weiss Ratings cut shares of PS International Group from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of PS International Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, PS International Group has a consensus rating of “Sell”.

PS International Group Company Profile

PS International Group, Inc (NASDAQ:PSIG) is a specialized provider of engineered pipe supports, hangers and accessories for industrial applications. The company’s product suite encompasses custom‐designed brackets, snubbers, spring supports, insulation components and vibration‐control solutions that help maintain the integrity of pressure piping systems under a wide range of operating conditions.

Serving diverse end markets—including oil and gas production, petrochemical processing, power generation, refining and industrial construction—PS International Group integrates in-house design, manufacturing and distribution capabilities to meet project-specific requirements.