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

PS International Group Ltd. (NASDAQ:PSIG) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 5,459 shares, a decrease of 95.2% from the August 15th total of 113,863 shares. Based on an average daily volume of 854,839 shares, the short-interest ratio is presently 0.0 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Trading of PS International Group

An institutional investor recently bought a new stake in PS International Group stock. Renaissance Technologies LLC purchased a new position in PS International Group Ltd. (NASDAQ:PSIG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 at the end of the most recent quarter. Hedge funds and other institutional investors own 29.70% of the company’s stock.

PS International Group Price Performance

PSIG traded up $0.30 during trading on Friday, hitting $2.60. The stock had a trading volume of 1,698,094 shares, compared to its average volume of 679,924. The stock has a 50 day simple moving average of $1.48 and a two-hundred day simple moving average of $5.06. PS International Group has a twelve month low of $1.03 and a twelve month high of $12.00.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of PS International Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings lowered PS International Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, PS International Group presently has a consensus rating of “Sell”.

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.