Performance Shipping (NASDAQ:PSHG) Issues Earnings Results

Performance Shipping (NASDAQ:PSHG) issued its earnings results on Tuesday. The company reported $0.26 earnings per share for the quarter, Zacks reports. Performance Shipping had a net margin of 59.37% and a return on equity of 15.90%.

Performance Shipping Price Performance

PSHG traded up $0.03 on Tuesday, reaching $1.68. The company had a trading volume of 18,712 shares, compared to its average volume of 103,639. The business has a 50 day simple moving average of $1.86 and a 200 day simple moving average of $2.06. The company has a market cap of $20.88 million, a price-to-earnings ratio of 1.31 and a beta of -0.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.18 and a current ratio of 2.22. Performance Shipping has a 52-week low of $1.52 and a 52-week high of $2.58.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Performance Shipping from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Performance Shipping

An institutional investor recently raised its position in Performance Shipping stock. Renaissance Technologies LLC grew its holdings in shares of Performance Shipping Inc. (NASDAQ:PSHG) by 39.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 189,948 shares of the company’s stock after acquiring an additional 53,248 shares during the quarter. Renaissance Technologies LLC owned 1.53% of Performance Shipping worth $405,000 at the end of the most recent quarter. 19.90% of the stock is owned by institutional investors.

Performance Shipping Company Profile

Performance Shipping Inc, incorporated in the Republic of the Marshall Islands and trading on NASDAQ under the ticker PSHG, is a publicly listed dry bulk shipping company. The company owns and operates a modern fleet of Supramax and Ultramax vessels, which are well-suited for the seaborne transportation of a wide range of dry bulk commodities. Performance Shipping’s vessels carry cargoes such as grains, coal, iron ore, steel products and fertilizer under medium? to long?term time charter agreements with a diverse set of global charterers.

Since completing its initial public offering in late 2014, Performance Shipping has focused on disciplined growth through vessel acquisitions and the renewal of charter contracts to maintain steady cash flows.