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

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

PS International Group Stock Performance

Shares of PSIG stock traded down $0.32 on Monday, hitting $4.40. 987,284 shares of the stock traded hands, compared to its average volume of 790,558. The company’s fifty day moving average is $3.41 and its 200 day moving average is $4.71. PS International Group has a 1-year low of $1.03 and a 1-year high of $12.00.

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 investment analyst has rated the stock with a Sell rating. According to MarketBeat, PS International Group presently has a consensus rating of “Sell”.

Institutional Trading of PS International Group

An institutional investor recently raised its position in PS International Group stock. Renaissance Technologies LLC grew its holdings in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,401 shares of the company’s stock after purchasing an additional 15,424 shares during the period. Renaissance Technologies LLC owned 0.17% of PS International Group worth $162,000 as of its most recent SEC filing. 29.70% of the stock is currently owned by institutional investors and hedge funds.

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.