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

PS International Group Ltd. (NASDAQ:PSIG) was the recipient 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. Based on an average daily trading volume, of 1,172,425 shares, the days-to-cover ratio is currently 0.3 days. Currently, 8.2% of the company’s shares are short sold.

Institutional Trading of PS International Group

An institutional investor recently raised its stake in PS International Group stock. Renaissance Technologies LLC boosted its position in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,401 shares of the company’s stock after buying an additional 15,424 shares during the period. Renaissance Technologies LLC owned approximately 0.17% of PS International Group worth $162,000 at the end of the most recent quarter. 29.70% of the stock is currently owned by hedge funds and other institutional investors.

PS International Group Stock Down 0.9%

Shares of PSIG stock opened at $5.29 on Friday. PS International Group has a 52 week low of $1.03 and a 52 week high of $12.00. The company has a 50-day simple moving average of $4.29 and a 200 day simple moving average of $4.95.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of PS International Group from a “hold” rating to a “sell” rating in a report on Sunday, November 8th. Weiss Ratings upgraded shares of PS International Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.