PS International Group Ltd. (NASDAQ:PSIG) Short Interest Up 808.2% in May

PS International Group Ltd. (NASDAQ:PSIG) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 288,594 shares, a growth of 808.2% from the May 14th total of 31,777 shares. Currently, 6.0% of the shares of the company are sold short. Based on an average trading volume of 1,356,614 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On PS International Group

A hedge fund recently bought a new stake in PS International Group stock. Renaissance Technologies LLC bought a new position in shares of PS International Group Ltd. (NASDAQ:PSIG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,977 shares of the company’s stock, valued at approximately $54,000. Renaissance Technologies LLC owned about 0.13% of PS International Group at the end of the most recent reporting period. Institutional investors and hedge funds own 29.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PSIG shares. Wall Street Zen upgraded PS International Group to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings lowered PS International Group from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, PS International Group has an average rating of “Sell”.

PS International Group Stock Performance

NASDAQ:PSIG opened at $10.00 on Friday. PS International Group has a 52 week low of $2.23 and a 52 week high of $10.20. The stock’s 50-day moving average price is $7.30 and its 200-day moving average price is $5.80.

About PS International Group

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.