Performance Shipping Inc. [NASDAQ: PSHG] traded at a low on 05/27/22, posting a -63.56 loss after which it closed the day’ session at $0.66. The company report on May 27, 2022 that Performance Shipping Inc. Announces Pricing of $8.0 Million Underwritten Public Offering.
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Performance Shipping Inc. (NASDAQ: PSHG), a global shipping company specializing in the ownership of tanker vessels, announced today the pricing of an underwritten public offering of 7,620,000 units at a price of $1.05 per unit. Each unit consists of one common share (or pre-funded warrant in lieu thereof) and one Class A warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $8.0 million.
Each Class A warrant is immediately exercisable for one common share at an exercise price of $1.05 per share and will expire five years from issuance. The offering is expected to close on or about June 1, 2022, subject to customary closing conditions.
The results of the trading session contributed to over 12171261 shares changing hands. Over the past one week, the price volatility of Performance Shipping Inc. stands at 17.71% while the volatility over the past one month is 11.46%.
The market cap for PSHG stock reached $4.40 million, with 5.03 million shares outstanding and 2.18 million shares in the current float. Compared to the average trading volume of 54.58K shares, PSHG reached a trading volume of 12171261 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Performance Shipping Inc. [PSHG]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PSHG shares is $6.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PSHG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Performance Shipping Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 29, 2021.
The Average True Range (ATR) for Performance Shipping Inc. is set at 0.33, with the Price to Sales ratio for PSHG stock in the period of the last 12 months amounting to 0.12. The Price to Book ratio for the last quarter was 0.04, with the Price to Cash per share for the same quarter was set at 1.45.
How has PSHG stock performed recently?
Performance Shipping Inc. [PSHG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -76.40. With this latest performance, PSHG shares dropped by -74.78% in over the last four-week period, additionally sinking by -84.86% over the last 6 months – not to mention a drop of -85.16% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PSHG stock in for the last two-week period is set at 20.48, with the RSI for the last a single of trading hit 14.22, and the three-weeks RSI is set at 25.23 for Performance Shipping Inc. [PSHG]. The present Moving Average for the last 50 days of trading for this stock 2.6694, while it was recorded at 1.7636 for the last single week of trading, and 3.9185 for the last 200 days.
Performance Shipping Inc. [PSHG]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Performance Shipping Inc. [PSHG] shares currently have an operating margin of -23.10 and a Gross Margin at -6.82. Performance Shipping Inc.’s Net Margin is presently recorded at -27.69.
Return on Equity for this stock declined to -10.98, with Return on Assets sitting at -6.68.
Performance Shipping Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.30.
Earnings analysis for Performance Shipping Inc. [PSHG]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PSHG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Performance Shipping Inc. go to 10.00%.
Insider trade positions for Performance Shipping Inc. [PSHG]
There are presently around $0 million, or 9.50% of PSHG stock, in the hands of institutional investors. The top three institutional holders of PSHG stocks are: RUFFER LLP with ownership of 105,572, which is approximately 0% of the company’s market cap and around 10.44% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 51,134 shares of the stock with an approximate value of $34000.0 in PSHG stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $27000.0 in PSHG stock with ownership of nearly 0% of the company’s market capitalization.
2 institutional holders increased their position in Performance Shipping Inc. [NASDAQ:PSHG] by around 21,996 shares. Additionally, 2 investors decreased positions by around 26,171 shares, while 4 investors held positions by with 183,000 shares. The mentioned changes placed institutional holdings at 231,167 shares, according to the latest SEC report filing. PSHG stock had 1 new institutional investments in for a total of 11,996 shares, while 1 institutional investors sold positions of 21,371 shares during the same period.