Short Interest in PS International Group Ltd. (NASDAQ:PSIG) Increases By 808.2%

PS International Group Ltd. (NASDAQ:PSIG) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 288,594 shares, a growth of 808.2% from the May 14th total of 31,777 shares. Currently, 6.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,356,614 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On PS International Group

An institutional investor recently bought a new position in PS International Group stock. Renaissance Technologies LLC purchased a new position in PS International Group Ltd. (NASDAQ:PSIG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings lowered 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 upgraded shares of PS International Group to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

PS International Group Trading Up 0.1%

PSIG opened at $9.72 on Wednesday. PS International Group has a 1-year low of $2.23 and a 1-year high of $10.20. The company has a 50 day simple moving average of $7.15 and a two-hundred day simple moving average of $5.72.

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.