Short Interest in PS International Group Ltd. (NASDAQ:PSIG) Decreases By 51.0%

PS International Group Ltd. (NASDAQ:PSIG) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 139,665 shares, a decrease of 51.0% from the July 15th total of 285,002 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average daily volume of 65,515 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analyst Weigh In

PSIG has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of PS International Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of PS International Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, PS International Group has a consensus rating of “Sell”.

PS International Group Price Performance

Shares of PSIG stock traded down $0.01 during trading hours on Friday, hitting $1.12. The stock had a trading volume of 51,428 shares, compared to its average volume of 58,499. The stock’s 50 day moving average is $3.95 and its 200 day moving average is $5.51. PS International Group has a twelve month low of $1.03 and a twelve month 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 holdings in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,401 shares of the company’s stock after purchasing an additional 15,424 shares during the period. Renaissance Technologies LLC owned 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.

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.