Performance Shipping Inc. (NASDAQ:PSHG – Get Free Report) fell 1% on Friday . The stock 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.
Analyst Upgrades and Downgrades
Separately, Alliance Global Partners began coverage on Performance Shipping in a research note on Monday, July 22nd. They set a “buy” rating and a $6.50 target price on the stock.
View Our Latest Analysis on PSHG
Performance Shipping Price Performance
Performance Shipping (NASDAQ:PSHG – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Performance Shipping had a return on equity of 24.02% and a net margin of 62.19%. The business had revenue of $20.51 million for the quarter.
Hedge Funds Weigh In On Performance Shipping
A number of institutional investors have recently added to or reduced their stakes in the company. Cable Car Capital LLC purchased a new stake in shares of Performance Shipping in the 4th quarter worth about $120,000. Quadrature Capital Ltd bought a new stake in Performance Shipping during the fourth quarter worth about $56,000. Renaissance Technologies LLC grew its holdings in Performance Shipping by 167.6% in the second quarter. Renaissance Technologies LLC now owns 142,284 shares of the company’s stock worth $307,000 after purchasing an additional 89,109 shares during the period. Finally, Privium Fund Management UK Ltd bought a new position in shares of Performance Shipping during the second quarter valued at approximately $64,000. Institutional investors own 19.90% of the company’s stock.
About Performance Shipping
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