PS International Group Ltd. (NASDAQ:PSIG) Sees Large Increase in Short Interest

PS International Group Ltd. (NASDAQ:PSIG) was the target of a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 390,543 shares, a growth of 857.2% from the October 15th total of 40,800 shares. Currently, 8.2% of the shares of the stock are short sold. Based on an average daily volume of 1,172,425 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSIG. Weiss Ratings upgraded shares of PS International Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, November 2nd. Wall Street Zen downgraded shares of PS International Group from a “hold” rating to a “sell” rating in a research report on Sunday. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

PS International Group Stock Performance

NASDAQ PSIG traded down $0.05 on Thursday, reaching $5.29. 75,622 shares of the stock traded hands, compared to its average volume of 816,990. The firm’s fifty day simple moving average is $4.22 and its 200 day simple moving average is $4.94. PS International Group has a 12 month low of $1.03 and a 12 month high of $12.00.

PS International Group (NASDAQ:PSIG) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.36) EPS for the quarter. The firm had revenue of $13.27 million during the quarter.

Institutional Investors Weigh In On PS International Group

An institutional investor recently raised its stake in PS International Group stock. Renaissance Technologies LLC grew its holdings in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,401 shares of the company’s stock after purchasing an additional 15,424 shares during the period. Renaissance Technologies LLC owned approximately 0.17% of PS International Group worth $162,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 29.70% of the company’s stock.

PS International Group Company Profile

PS International Group Limited is a Hong Kong-based logistics and freight-forwarding company. Through its operating subsidiaries, the company arranges the movement of cargo for customers using ocean, air and ground transportation services. Its services may include freight booking and coordination, customs clearance, trucking, cargo warehousing and related logistics support. The company serves businesses that require transportation and supply-chain services for shipments moving through Hong Kong and other international trade routes.