PS International Group Ltd. (NASDAQ:PSIG) Shares Shorted: Short Interest Up 403.9% in September

PS International Group Ltd. (NASDAQ:PSIG) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 27,510 shares, an increase of 403.9% from the August 31st total of 5,459 shares. Based on an average trading volume of 1,277,382 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.6% of the shares of the stock are short sold.

PS International Group Stock Down 1.0%

Shares of PS International Group stock opened at $4.56 on Friday. The firm’s 50 day moving average price is $2.00 and its 200-day moving average price is $4.89. PS International Group has a 52-week low of $1.03 and a 52-week high of $12.00.

Institutional Trading of PS International Group

An institutional investor recently raised its position in PS International Group stock. Renaissance Technologies LLC increased its stake in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,401 shares of the company’s stock after buying an additional 15,424 shares during the quarter. Renaissance Technologies LLC owned about 0.17% of PS International Group worth $162,000 as of its most recent SEC filing. 29.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

About PS International Group

PS International Group Limited (NASDAQ: PSIG) is a supply chain management company serving participants in the apparel industry. The company helps coordinate the sourcing and supply of apparel-related materials and products for manufacturers, brands and other customers.

Its activities have included the procurement and trading of textiles, fabrics and other apparel materials, along with related production and supply chain coordination services. Through these operations, PS International Group supports customers across multiple stages of the apparel supply process, from sourcing materials to arranging production and delivery.

PS International Group is headquartered in Asia and primarily serves customers and business partners in the region.