Performance Shipping (NASDAQ:PSHG) Issues Earnings Results

Performance Shipping (NASDAQ:PSHG) issued its quarterly earnings data on Wednesday. The company reported $0.19 EPS for the quarter, FiscalAI reports. The firm had revenue of $26.16 million during the quarter. Performance Shipping had a return on equity of 17.24% and a net margin of 65.40%.

Performance Shipping Price Performance

Performance Shipping stock traded down $0.21 during trading hours on Wednesday, hitting $2.17. 332,509 shares of the company traded hands, compared to its average volume of 109,716. The firm has a market cap of $26.97 million, a P/E ratio of 1.62 and a beta of -0.33. The company has a quick ratio of 7.35, a current ratio of 7.40 and a debt-to-equity ratio of 0.71. The firm’s 50-day simple moving average is $2.12 and its two-hundred day simple moving average is $2.07. Performance Shipping has a 1-year low of $1.30 and a 1-year high of $2.58.

Wall Street Analysts Forecast Growth

PSHG has been the subject of several recent research reports. Wall Street Zen upgraded shares of Performance Shipping to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings restated a “hold (c)” rating on shares of Performance Shipping in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Performance Shipping stock. Renaissance Technologies LLC boosted its holdings in Performance Shipping Inc. (NASDAQ:PSHG) by 39.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,948 shares of the company’s stock after acquiring an additional 53,248 shares during the quarter. Renaissance Technologies LLC owned about 1.53% of Performance Shipping worth $405,000 as of its most recent SEC filing. Institutional investors and hedge funds own 19.90% of the company’s stock.

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.