PS International Group Ltd. (NASDAQ:PSIG) Short Interest Down 51.0% in July

PS International Group Ltd. (NASDAQ:PSIG) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 139,665 shares, a decrease of 51.0% from the July 15th total of 285,002 shares. Based on an average daily trading volume, of 65,515 shares, the short-interest ratio is presently 2.1 days. Approximately 2.9% of the shares of the company are sold short.

Institutional Investors Weigh In On PS International Group

An institutional investor recently bought a new position in PS International Group stock. Renaissance Technologies LLC bought a new position in shares of PS International Group Ltd. (NASDAQ:PSIG) during the 4th 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 at the end of the most recent quarter. 29.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on PSIG. Weiss Ratings raised PS International Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded PS International Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

PS International Group Trading Down 0.9%

Shares of PS International Group stock traded down $0.01 on Friday, reaching $1.12. 51,428 shares of the stock were exchanged, compared to its average volume of 58,499. PS International Group has a 1-year low of $1.03 and a 1-year high of $12.00. The business has a fifty day moving average price of $3.95 and a two-hundred day moving average price of $5.51.

About PS International Group

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.