Performance Shipping (NASDAQ:PSHG) Stock Falls 1.6% – Time to Sell?

Performance Shipping Inc. (NASDAQ:PSHG) shares fell 1.6% on Tuesday. The stock traded as low as $1.80 and last traded at $1.82. 46,063 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 68,285 shares. The stock had previously closed at $1.85.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Performance Shipping from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Performance Shipping Stock Performance

The company has a market cap of $21.88 million, a P/E ratio of 1.91 and a beta of -0.14. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.85 and a current ratio of 3.91. The business has a 50 day moving average price of $1.75 and a two-hundred day moving average price of $1.80.

Performance Shipping (NASDAQ:PSHG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). The business had revenue of $34.66 million during the quarter, compared to analysts’ expectations of $32.34 million. Performance Shipping had a return on equity of 10.21% and a net margin of 29.70%.

Institutional Trading of Performance Shipping

A hedge fund recently bought a new position in Performance Shipping stock. NewEdge Advisors LLC purchased a new position in Performance Shipping Inc. (NASDAQ:PSHG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 122,789 shares of the company’s stock, valued at approximately $226,000. NewEdge Advisors LLC owned 0.99% of Performance Shipping as of its most recent SEC filing. Institutional investors own 19.90% of the company’s stock.

About Performance Shipping

Performance Shipping Inc (NASDAQ: PSHG) is a shipping company that owns and operates tanker vessels used to transport crude oil and refined petroleum products. The company’s vessels serve international maritime trade routes and are employed under time-charter, voyage-charter, or pool arrangements, depending on market conditions and commercial opportunities.

Based in Athens, Greece, Performance Shipping operates in the global tanker market, connecting oil producers, refiners, commodity traders, and other energy-sector customers across major shipping regions.