PS International Group Ltd. (NASDAQ:PSIG) Shares Shorted: Short Interest Up 403.9% in September

PS International Group Ltd. (NASDAQ:PSIG) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 27,510 shares, an increase of 403.9% from the August 31st total of 5,459 shares. Based on an average trading volume of 1,277,382 shares, the short-interest ratio is presently 0.0 days. Currently, 0.6% of the shares of the company are sold short.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

An institutional investor recently raised its stake 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 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,401 shares of the company’s stock after purchasing an additional 15,424 shares during the quarter. Renaissance Technologies LLC owned approximately 0.17% of PS International Group worth $162,000 at the end of the most recent quarter. 29.70% of the stock is owned by institutional investors and hedge funds.

PS International Group Price Performance

PSIG stock opened at $4.56 on Friday. The firm has a 50-day simple moving average of $2.00 and a 200-day simple moving average of $4.89. PS International Group has a 52 week low of $1.03 and a 52 week high of $12.00.

PS International Group Company Profile

PS International Group Limited (NASDAQ: PSIG) is a supply chain management company serving participants in the apparel industry. The company helps coordinate the sourcing and supply of apparel-related materials and products for manufacturers, brands and other customers.

Its activities have included the procurement and trading of textiles, fabrics and other apparel materials, along with related production and supply chain coordination services. Through these operations, PS International Group supports customers across multiple stages of the apparel supply process, from sourcing materials to arranging production and delivery.

PS International Group is headquartered in Asia and primarily serves customers and business partners in the region.