L1 Capital Global, Inc. recently announced the acquisition of new stake in Performance Shipping Inc. (NASDAQ:PSHG). This fresh investment now brings its stake to 2.47% valued currently at $0.35 million. In addition, SEB Investment Management AB raised its holdings by 35882.0 to 35882.0 shares. And Millennium Management LLC has lifted its position by 2,016.75% or 24685.0 shares – to 25909.0 shares.
With over 0.13 million Performance Shipping Inc. (PSHG) shares trading Monday and a closing price of $2.90 on the day, the dollar volume was approximately $0.38 million. The shares have shown a negative half year performance of -21.02% and its price on 01/23/23 lost nearly -3.33%. Currently, there are 4.05M common shares owned by the public and among those 3.74M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for PSHG have a consensus price objective of $90.00. The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $90.00. But an upside of 96.78% will see the stock hit the forecast high price target while median target price for the stock is $90.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
HBOS Specialised Invt. Funds ICVC owns 5121.0 shares of the company’s stock, all valued at over $18128.0. Fidelity Nasdaq Composite Index F sold 2684.0 shares to see its total holdings shrink to 0.0 shares valued at over $0.0 and representing 0.00% of the shares outstanding.
Shares of Performance Shipping Inc. (NASDAQ: PSHG) opened at $3.03, up $0.03 from a prior closing price of $3.00. However, the script later moved the day high at 3.1200, down -3.33%. The company’s stock has a 5-day price change of -10.49% and -35.12% over the past three months. PSHG shares are trading -18.08% year to date (YTD), with the 12-month market performance down to -93.77% lower. It has a 12-month low price of $2.88 and touched a high of $71.25 over the same period. PSHG has an average intraday trading volume of 165.22K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.88%, -19.74%, and -74.95% respectively.
Institutional ownership of Performance Shipping Inc. (NASDAQ: PSHG) shares accounts for 6.50% of the company’s 4.05M shares outstanding. Mutual fund holders own 0.13%, while other institutional holders and individual stakeholders account for 8.81% and — respectively.
It has a market capitalization of $12.18M and a beta (3y monthly) value of 0.37. The earnings-per-share (ttm) stands at -$47.61. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.35% over the week and 7.92% over the month.
Analysts forecast that Performance Shipping Inc. (PSHG) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.65 a year ago. EPS should grow at an annualized rate of 10.00% over the next five years, compared to -39.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Performance Shipping Inc. (PSHG) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PSHG, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on March 29, 2021, with the firm’s price target at $11.