PS International Group Ltd. (NASDAQ:PSIG) Sees Significant Growth in Short Interest

PS International Group Ltd. (NASDAQ:PSIG) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 21,187 shares, an increase of 99.7% from the April 15th total of 10,612 shares. Based on an average daily volume of 460,258 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSIG. Wall Street Zen upgraded PS International Group to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings restated a “sell (d)” rating on shares of PS International Group in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, PS International Group currently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PS International Group stock. Renaissance Technologies LLC purchased a new position in shares of PS International Group Ltd. (NASDAQ:PSIG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,977 shares of the company’s stock, valued at approximately $54,000. Renaissance Technologies LLC owned about 0.13% of PS International Group as of its most recent SEC filing. 29.70% of the stock is currently owned by institutional investors and hedge funds.

PS International Group Stock Up 1.4%

Shares of PSIG stock traded up $0.10 during trading hours on Friday, reaching $7.25. 2,112,855 shares of the company’s stock were exchanged, compared to its average volume of 520,756. PS International Group has a fifty-two week low of $2.23 and a fifty-two week high of $7.45. The business has a fifty day moving average price of $6.26 and a 200-day moving average price of $5.18.

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.