PS International Group Ltd. (NASDAQ:PSIG) Stock Short Interest Drops 88.6%

PS International Group Ltd. (NASDAQ:PSIG) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 40,800 shares, a drop of 88.6% from the September 30th total of 357,166 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 1,086,637 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PS International Group stock. Renaissance Technologies LLC grew its stake in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,401 shares of the company’s stock after acquiring an additional 15,424 shares during the period. Renaissance Technologies LLC owned about 0.17% of PS International Group worth $162,000 at the end of the most recent quarter. 29.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of PS International Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, PS International Group has a consensus rating of “Sell”.

PS International Group Stock Performance

Shares of PSIG traded down $0.32 during trading on Monday, reaching $4.40. The company’s stock had a trading volume of 987,284 shares, compared to its average volume of 790,558. The company has a fifty day moving average of $3.41 and a two-hundred day moving average of $4.71. PS International Group has a twelve month low of $1.03 and a twelve month high of $12.00.

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.