Diamond S Shipping Inc (NYSE:DSSI) Sees Significant Increase in Short Interest
Diamond S Shipping Inc (NYSE:DSSI) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 506,500 shares, an increase of 13.9% from the July 31st total of 444,700 shares. Based on an average trading volume of 189,200 shares, the short-interest ratio is presently 2.7 days. Approximately 2.6% of the shares of the stock are short sold.
A number of large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in shares of Diamond S Shipping by 18.1% in the second quarter. Royal Bank of Canada now owns 14,583 shares of the company’s stock valued at $186,000 after purchasing an additional 2,233 shares during the period. Uniplan Investment Counsel Inc. purchased a new stake in shares of Diamond S Shipping during the second quarter worth about $2,599,000. Citadel Advisors LLC acquired a new stake in shares of Diamond S Shipping in the second quarter worth approximately $469,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Diamond S Shipping in the second quarter worth approximately $372,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Diamond S Shipping in the second quarter worth approximately $2,476,000. Hedge funds and other institutional investors own 58.50% of the company’s stock.
NYSE:DSSI traded up $0.06 on Friday, hitting $11.85. The stock had a trading volume of 3,990 shares, compared to its average volume of 138,478. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.99 and a quick ratio of 0.79. The stock has a fifty day moving average price of $11.00. Diamond S Shipping has a 1-year low of $9.60 and a 1-year high of $14.26.
Several brokerages recently issued reports on DSSI. Stifel Nicolaus began coverage on shares of Diamond S Shipping in a research note on Tuesday, June 4th. They set a “buy” rating and a $18.00 price objective for the company. B. Riley set a $17.00 price objective on shares of Diamond S Shipping and gave the company a “buy” rating in a research note on Wednesday, August 7th.
About Diamond S Shipping
Diamond S Shipping Inc operates as a shipping company. The company operates through two segments, Crude Tankers and Product Tankers. It provides seaborne transportation of crude oil, refined petroleum, and other production. As of March 28, 2019, it owned and operated a fleet of 68 vessels, including 15 Suezmax vessels, 1 Aframax, and 52 medium-range product tankers.
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