Diana Shipping Inc. (NYSE:DSX) Sees Large Decline in Short Interest

Diana Shipping Inc. (NYSE:DSX) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,180,000 shares, a decline of 10.6% from the November 15th total of 1,320,000 shares. Based on an average daily volume of 625,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Diana Shipping from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th.

Diana Shipping Price Performance

NYSE:DSX remained flat at $1.85 during trading hours on Tuesday. 535,135 shares of the company’s stock were exchanged, compared to its average volume of 665,861. The stock has a market cap of $231.54 million, a price-to-earnings ratio of 61.67 and a beta of 1.09. The company’s 50-day moving average is $2.14 and its 200 day moving average is $2.46. Diana Shipping has a 12 month low of $1.73 and a 12 month high of $3.22. The company has a current ratio of 2.10, a quick ratio of 2.04 and a debt-to-equity ratio of 1.27.

Diana Shipping (NYSE:DSX) last announced its quarterly earnings results on Monday, November 25th. The shipping company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Diana Shipping had a net margin of 5.36% and a return on equity of 4.42%. The firm had revenue of $57.50 million for the quarter, compared to analysts’ expectations of $55.50 million. During the same period in the previous year, the company posted $0.06 earnings per share. Diana Shipping’s revenue was down 7.4% compared to the same quarter last year.

Diana Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.16%. The ex-dividend date is Wednesday, December 11th. Diana Shipping’s dividend payout ratio (DPR) is presently 133.33%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Pekin Hardy Strauss Inc. purchased a new position in Diana Shipping in the third quarter valued at about $3,164,000. Marshall Wace LLP boosted its stake in shares of Diana Shipping by 197.9% during the 2nd quarter. Marshall Wace LLP now owns 403,909 shares of the shipping company’s stock valued at $1,155,000 after buying an additional 268,337 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Diana Shipping during the second quarter worth approximately $257,000. GSA Capital Partners LLP bought a new stake in shares of Diana Shipping in the third quarter worth $176,000. Finally, Walleye Capital LLC raised its holdings in Diana Shipping by 55.1% in the third quarter. Walleye Capital LLC now owns 48,067 shares of the shipping company’s stock valued at $124,000 after acquiring an additional 17,067 shares in the last quarter. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

Diana Shipping Company Profile

Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of March 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.