PS International Group (NASDAQ:PSIG) Announces Quarterly Earnings Results

PS International Group (NASDAQ:PSIG) posted its quarterly earnings results on Tuesday. The company reported ($0.36) earnings per share for the quarter, FiscalAI reports. The business had revenue of $13.27 million during the quarter.

PS International Group Price Performance

NASDAQ PSIG traded up $0.12 during trading on Tuesday, reaching $5.03. 151,557 shares of the company’s stock were exchanged, compared to its average volume of 809,166. The business has a 50 day moving average price of $3.76 and a 200-day moving average price of $4.91. PS International Group has a fifty-two week low of $1.03 and a fifty-two week high of $12.00.

Analysts Set New Price Targets

Several research firms have recently commented on PSIG. Weiss Ratings raised PS International Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Wall Street Zen upgraded shares of PS International Group from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Trading of PS International Group

A hedge fund recently raised its position in PS International Group stock. Renaissance Technologies LLC boosted its stake in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,401 shares of the company’s stock after purchasing an additional 15,424 shares during the quarter. Renaissance Technologies LLC owned about 0.17% of PS International Group worth $162,000 at the end of the most recent reporting period. 29.70% of the stock is currently owned by hedge funds and other institutional investors.

About PS International Group

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.