PS International Group Ltd. (NASDAQ:PSIG) Sees Large Drop in Short Interest

PS International Group Ltd. (NASDAQ:PSIG) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 5,459 shares, a decline of 95.2% from the August 15th total of 113,863 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 854,839 shares, the short-interest ratio is presently 0.0 days.

PS International Group Stock Performance

Shares of PSIG traded up $0.38 during trading hours on Friday, hitting $2.67. 1,789,817 shares of the company were exchanged, compared to its average volume of 751,204. The firm has a fifty day simple moving average of $1.50 and a 200-day simple moving average of $5.04. PS International Group has a one year low of $1.03 and a one year high of $12.00.

Hedge Funds Weigh In On PS International Group

A hedge fund recently bought a new stake in PS International Group stock. Renaissance Technologies LLC purchased a new position in PS International Group Ltd. (NASDAQ:PSIG) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,977 shares of the company’s stock, valued at approximately $54,000. Renaissance Technologies LLC owned approximately 0.13% of PS International Group at the end of the most recent quarter. 29.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PSIG shares. Weiss Ratings downgraded shares of PS International Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. Wall Street Zen cut shares of PS International Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

PS International Group Company Profile

PS International Group, Inc (NASDAQ:PSIG) is a specialized provider of engineered pipe supports, hangers and accessories for industrial applications. The company’s product suite encompasses custom‐designed brackets, snubbers, spring supports, insulation components and vibration‐control solutions that help maintain the integrity of pressure piping systems under a wide range of operating conditions.

Serving diverse end markets—including oil and gas production, petrochemical processing, power generation, refining and industrial construction—PS International Group integrates in-house design, manufacturing and distribution capabilities to meet project-specific requirements.