Market Analysts see Performance Shipping Inc. [PSHG] gaining to $11. Time to buy?

Performance Shipping Inc. [NASDAQ: PSHG] traded at a low on 11/14/22, posting a -17.67 loss after which it closed the day’ session at $0.26. The company report on November 14, 2022 that Performance Shipping Inc. Reports Record Net Income and Financial Results for the Third Quarter and Nine Months Ended September 30, 2022.

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Revenue from continuing and discontinued operations was $22.1 million ($18.8 million net of voyage expenses) for the third quarter of 2022, compared to $9.3 million ($4.3 million net of voyage expenses) for the same period in 2021. This increase was attributable to the increased time-charter equivalent rates (TCE rates) achieved during the quarter. Fleetwide, the average time charter equivalent rate for the third quarter of 2022 was $34,411, compared with an average rate of $9,335 for the same period in 2021. During the third quarter of 2022, net cash provided by operating activities of continuing and discontinued operations was $11.8 million, compared with $0.2 million for the third quarter of 2021.

The results of the trading session contributed to over 10721749 shares changing hands. Over the past one week, the price volatility of Performance Shipping Inc. stands at 10.00% while the volatility over the past one month is 8.57%.

The market cap for PSHG stock reached $16.23 million, with 60.73 million shares outstanding and 56.14 million shares in the current float. Compared to the average trading volume of 4.94M shares, PSHG reached a trading volume of 10721749 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]?

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 0.03, with the Price to Sales ratio for PSHG stock in the period of the last 12 months amounting to 0.37. The Price to Book ratio for the last quarter was 0.01, with the Price to Cash per share for the same quarter was set at 0.21.

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 -6.82. With this latest performance, PSHG shares dropped by -4.28% in over the last four-week period, additionally sinking by -90.63% over the last 6 months – not to mention a drop of -94.78% 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 41.41, with the RSI for the last a single of trading hit 36.67, and the three-weeks RSI is set at 43.13 for Performance Shipping Inc. [PSHG]. The present Moving Average for the last 50 days of trading for this stock 0.2786, while it was recorded at 0.3000 for the last single week of trading, and 1.4135 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 1.50 and a Current Ratio set at 1.60.

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 5.00% of PSHG stock, in the hands of institutional investors. The top three institutional holders of PSHG stocks are: SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) with ownership of 538,230, which is approximately New of the company’s market cap and around 7.55% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 388,626 shares of the stock with an approximate value of $0.1 million in PSHG stocks shares; and TWO SIGMA SECURITIES, LLC, currently with $43000.0 in PSHG stock with ownership of nearly 784.523% of the company’s market capitalization.

5 institutional holders increased their position in Performance Shipping Inc. [NASDAQ:PSHG] by around 1,112,539 shares. Additionally, 8 investors decreased positions by around 345,998 shares, while 4 investors held positions by with 231,391 shares. The mentioned changes placed institutional holdings at 1,227,146 shares, according to the latest SEC report filing. PSHG stock had 2 new institutional investments in for a total of 554,164 shares, while 7 institutional investors sold positions of 196,753 shares during the same period.


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