PS International Group (NASDAQ:PSIG) Trading Down 1.7% – Here’s What Happened

PS International Group Ltd. (NASDAQ:PSIG)’s stock price dropped 1.7% during mid-day trading on Monday . The company traded as low as $1.14 and last traded at $1.16. 117,244 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 104,055 shares. The stock had previously closed at $1.18.

Analysts Set New Price Targets

A number of research analysts have recently commented on PSIG shares. Weiss Ratings upgraded PS International Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Wall Street Zen cut shares of PS International Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

PS International Group Trading Down 1.7%

The firm’s 50-day moving average price is $4.57 and its 200-day moving average price is $5.60.

Institutional Investors Weigh In On PS International Group

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

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.