PS International Group (NASDAQ:PSIG) Shares Down 1.7% – Here’s What Happened

Shares of PS International Group Ltd. (NASDAQ:PSIG) were down 1.7% during mid-day trading on Monday . The company traded as low as $1.14 and last traded at $1.16. Approximately 117,244 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 104,055 shares. The stock had previously closed at $1.18.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PSIG shares. Wall Street Zen downgraded PS International Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings upgraded PS International Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, PS International Group currently has a consensus rating of “Sell”.

PS International Group Trading Down 1.7%

The company’s fifty day moving average price is $4.41 and its two-hundred day moving average price is $5.58.

Hedge Funds Weigh In On PS International Group

A hedge fund recently bought a new position in PS International Group stock. Renaissance Technologies LLC purchased a new stake in PS International Group Ltd. (NASDAQ:PSIG) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm 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. Hedge funds and other institutional investors own 29.70% of the company’s stock.

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.