PS International Group Ltd. (NASDAQ:PSIG) Stock Short Interest Jumps 1,198.3%

PS International Group Ltd. (NASDAQ:PSIG) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 357,166 shares, a growth of 1,198.3% from the September 15th total of 27,510 shares. Currently, 7.5% of the company’s shares are short sold. Based on an average daily volume of 1,638,641 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On PS International Group

A hedge fund recently raised its position in PS International Group stock. Renaissance Technologies LLC lifted its stake in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,401 shares of the company’s stock after buying an additional 15,424 shares during the quarter. Renaissance Technologies LLC owned about 0.17% of PS International Group worth $162,000 as of its most recent filing with the Securities & Exchange Commission. 29.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PSIG shares. Wall Street Zen lowered shares of PS International Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings lowered shares of PS International Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

PS International Group Stock Up 5.4%

Shares of NASDAQ:PSIG traded up $0.26 during midday trading on Friday, reaching $5.10. The company’s stock had a trading volume of 3,700,793 shares, compared to its average volume of 1,615,465. PS International Group has a fifty-two week low of $1.03 and a fifty-two week high of $12.00. The firm has a 50 day moving average price of $2.77 and a two-hundred day moving average price of $4.83.

About PS International Group

PS International Group Limited (NASDAQ: PSIG) is a Hong Kong-based holding company focused on freight forwarding and logistics services. Through its operating subsidiaries, the company coordinates the movement of goods for customers using international transportation networks.

Its services are generally associated with ocean and air freight forwarding, shipment coordination, customs-related support, and other logistics activities. These services may include arranging transportation, managing shipping documentation, and coordinating cargo movements between shippers, carriers, and consignees.

The company serves customers involved in cross-border trade, with operations centered in Hong Kong and connections to international shipping and logistics markets.