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

PS International Group Ltd. (NASDAQ:PSIG) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 288,594 shares, a growth of 808.2% from the May 14th total of 31,777 shares. Currently, 6.0% of the shares of the company are short sold. Based on an average daily volume of 1,356,614 shares, the short-interest ratio is currently 0.2 days.

PS International Group Stock Up 1.1%

NASDAQ PSIG traded up $0.11 during trading on Thursday, reaching $10.06. 1,253,379 shares of the company traded hands, compared to its average volume of 420,504. The stock’s 50 day moving average price is $7.22 and its two-hundred day moving average price is $5.76. PS International Group has a 1-year low of $2.23 and a 1-year high of $10.20.

Institutional Investors Weigh In On PS International Group

A hedge fund recently raised its stake in PS International Group stock. Renaissance Technologies LLC raised its stake 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 and Exchange Commission. The institutional investor owned 26,401 shares of the company’s stock after purchasing an additional 15,424 shares during the quarter. Renaissance Technologies LLC owned 0.17% of PS International Group worth $162,000 as of its most recent filing with the Securities and Exchange Commission. 29.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSIG has been the topic of a number of recent analyst reports. Wall Street Zen upgraded PS International Group to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings lowered PS International Group from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.