Performance Shipping Inc. (NASDAQ:PSHG – Get Free Report)’s stock price fell 1% on Friday . The company traded as low as $1.97 and last traded at $1.98. 33,578 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 83,705 shares. The stock had previously closed at $2.00.
Wall Street Analyst Weigh In
Separately, Alliance Global Partners assumed coverage on shares of Performance Shipping in a research report on Monday, July 22nd. They issued a “buy” rating and a $6.50 price objective on the stock.
Read Our Latest Stock Report on PSHG
Performance Shipping Price Performance
Performance Shipping (NASDAQ:PSHG – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $20.51 million for the quarter. Performance Shipping had a return on equity of 24.02% and a net margin of 62.19%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Cable Car Capital LLC purchased a new stake in Performance Shipping in the fourth quarter valued at approximately $120,000. Quadrature Capital Ltd acquired a new stake in Performance Shipping during the 4th quarter valued at approximately $56,000. Renaissance Technologies LLC lifted its stake in Performance Shipping by 167.6% during the 2nd quarter. Renaissance Technologies LLC now owns 142,284 shares of the company’s stock valued at $307,000 after acquiring an additional 89,109 shares during the period. Finally, Privium Fund Management UK Ltd purchased a new stake in shares of Performance Shipping in the 2nd quarter valued at $64,000. 19.90% of the stock is currently owned by hedge funds and other institutional investors.
Performance Shipping Company Profile
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