Short Interest in PS International Group Ltd. (NASDAQ:PSIG) Drops By 72.8%

PS International Group Ltd. (NASDAQ:PSIG) saw a significant decline in short interest in June. As of June 15th, there was short interest totaling 78,602 shares, a decline of 72.8% from the May 31st total of 288,594 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily volume of 1,494,055 shares, the days-to-cover ratio is currently 0.1 days.

PS International Group Price Performance

PSIG traded down $0.13 during trading hours on Monday, reaching $1.32. 6,217,774 shares of the stock traded hands, compared to its average volume of 777,485. The firm’s fifty day simple moving average is $8.16 and its two-hundred day simple moving average is $6.29. PS International Group has a fifty-two week low of $1.03 and a fifty-two week high of $12.00.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PSIG. Weiss Ratings downgraded 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 PS International Group from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Trading of PS International Group

A hedge fund recently raised its position in PS International Group stock. Renaissance Technologies LLC increased its holdings in PS International Group Ltd. (NASDAQ:PSIG) by 140.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,401 shares of the company’s stock after acquiring an additional 15,424 shares during the quarter. Renaissance Technologies LLC owned approximately 0.17% of PS International Group worth $162,000 as of its most recent filing with the SEC. Institutional investors own 29.70% of the company’s stock.

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.