Performance Shipping (NASDAQ:PSHG) Issues Quarterly Earnings Results

Performance Shipping (NASDAQ:PSHG) posted its earnings results on Wednesday. The company reported $0.19 EPS for the quarter, FiscalAI reports. The company had revenue of $26.16 million for the quarter. Performance Shipping had a return on equity of 16.06% and a net margin of 59.37%.

Performance Shipping Price Performance

PSHG stock opened at $2.26 on Friday. Performance Shipping has a 1 year low of $1.30 and a 1 year high of $2.58. The firm has a market capitalization of $28.10 million, a P/E ratio of 1.77 and a beta of -0.33. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.40 and a quick ratio of 7.35. The business’s 50-day moving average is $2.12 and its two-hundred day moving average is $2.07.

Institutional Investors Weigh In On Performance Shipping

A hedge fund recently bought a new stake in Performance Shipping stock. Citadel Advisors LLC acquired a new position in shares of Performance Shipping Inc. (NASDAQ:PSHG) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 110,439 shares of the company’s stock, valued at approximately $209,000. Citadel Advisors LLC owned about 0.89% of Performance Shipping at the end of the most recent quarter. 19.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Shipping in a research report on Monday, December 29th. Wall Street Zen raised shares of Performance Shipping to a “hold” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Performance Shipping Company Profile

Performance Shipping Inc, incorporated in the Republic of the Marshall Islands and trading on NASDAQ under the ticker PSHG, is a publicly listed dry bulk shipping company. The company owns and operates a modern fleet of Supramax and Ultramax vessels, which are well-suited for the seaborne transportation of a wide range of dry bulk commodities. Performance Shipping’s vessels carry cargoes such as grains, coal, iron ore, steel products and fertilizer under medium‐ to long‐term time charter agreements with a diverse set of global charterers.

Since completing its initial public offering in late 2014, Performance Shipping has focused on disciplined growth through vessel acquisitions and the renewal of charter contracts to maintain steady cash flows.