PS International Group Ltd. (NASDAQ:PSIG) Sees Significant Drop in Short Interest

PS International Group Ltd. (NASDAQ:PSIG) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 139,665 shares, a decline of 51.0% from the July 15th total of 285,002 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily volume of 65,515 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PSIG shares. Wall Street Zen lowered PS International Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings raised shares of PS International Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

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

PS International Group Stock Performance

PSIG stock traded up $0.17 during midday trading on Tuesday, reaching $1.25. The company’s stock had a trading volume of 3,209,425 shares, compared to its average volume of 665,984. The stock has a fifty day simple moving average of $3.78 and a two-hundred day simple moving average of $5.49. PS International Group has a 1 year low of $1.03 and a 1 year high of $12.00.

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.