PS International Group Ltd. (NASDAQ:PSIG) Stock Short Interest Declines 88.6%

PS International Group Ltd. (NASDAQ:PSIG) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 40,800 shares, a decrease of 88.6% from the September 30th total of 357,166 shares. Based on an average daily volume of 1,086,637 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.9% of the company’s shares are sold short.

PS International Group Trading Up 2.5%

PSIG traded up $0.11 during trading hours on Tuesday, hitting $4.51. The company’s stock had a trading volume of 418,579 shares, compared to its average volume of 788,594. The business’s 50-day moving average price is $3.46 and its 200-day moving average price is $4.90. PS International Group has a 12 month low of $1.03 and a 12 month high of $12.00.

Institutional Investors Weigh In On PS International Group

An institutional investor recently raised its stake in PS International Group stock. Renaissance Technologies LLC boosted its stake in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,401 shares of the company’s stock after buying an additional 15,424 shares during the period. Renaissance Technologies LLC owned approximately 0.17% of PS International Group worth $162,000 at the end of the most recent quarter. Institutional investors own 29.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut PS International Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.

PS International Group Company Profile

PS International Group Limited is a Hong Kong-based logistics and freight-forwarding company. Through its operating subsidiaries, the company arranges the movement of cargo for customers using ocean, air and ground transportation services.

Its services may include freight booking and coordination, customs clearance, trucking, cargo warehousing and related logistics support. The company serves businesses that require transportation and supply-chain services for shipments moving through Hong Kong and other international trade routes.

PS International Group operates as a holding company for its logistics businesses.