PS International Group Ltd. (NASDAQ:PSIG) Short Interest Update

PS International Group Ltd. (NASDAQ:PSIG) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 5,459 shares, a drop of 95.2% from the August 15th total of 113,863 shares. Based on an average trading volume of 854,839 shares, the short-interest ratio is currently 0.0 days. Currently, 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On PS International Group

An institutional investor recently bought a new stake in PS International Group stock. Renaissance Technologies LLC bought a new position in shares of PS International Group Ltd. (NASDAQ:PSIG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,977 shares of the company’s stock, valued at approximately $54,000. Renaissance Technologies LLC owned about 0.13% of PS International Group as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 29.70% of the company’s stock.

PS International Group Stock Up 28.3%

PSIG traded up $0.51 during trading hours on Thursday, reaching $2.29. The company’s stock had a trading volume of 4,081,882 shares, compared to its average volume of 548,361. The company’s 50-day moving average is $1.48 and its 200-day moving average is $5.06. PS International Group has a 52 week low of $1.03 and a 52 week high of $12.00.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PSIG shares. Weiss Ratings cut shares of PS International Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. Wall Street Zen downgraded shares of PS International Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, PS International Group currently has a consensus rating of “Sell”.

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.