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Performance Shipping Inc. (NASDAQ: PSHG) Is Down -34.01% In A Month. Could There Be Any Hope That It Will Rise Soon?

During the last session, Performance Shipping Inc. (NASDAQ:PSHG)’s traded shares were 5.09 million, with the beta value of the company hitting 0.67. At the end of the trading day, the stock’s price was $0.39, reflecting an intraday gain of 2.63% or $0.01. The 52-week high for the PSHG share is $6.10, that puts it down -1464.1 from that peak though still a striking 43.59% gain since the share price plummeted to a 52-week low of $0.22. The company’s market capitalization is $9.36M, and the average intraday trading volume over the past 10 days was 7.61 million shares, and the average trade volume was 2.81 million shares over the past three months.

Performance Shipping Inc. (PSHG) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. PSHG has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.66.

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Performance Shipping Inc. (NASDAQ:PSHG) trade information

Performance Shipping Inc. (PSHG) registered a 2.63% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.63% in intraday trading to $0.39 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 62.64%, and it has moved by -34.01% in 30 days. Based on these gigs, the overall price performance for the year is -91.16%. The short interest in Performance Shipping Inc. (NASDAQ:PSHG) is 0.66 million shares and it means that shorts have 0.71 day(s) to cover.

The consensus price target of analysts on Wall Street is $6.00, which implies an increase of 93.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.00 and $6.00 respectively. As a result, PSHG is trading at a discount of -1438.46% off the target high and -1438.46% off the low.

Performance Shipping Inc. (PSHG) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -1.50% this quarter and then jump 28.30% in the quarter after that. In the rating firms’ projections, revenue will increase 68.30% compared to the previous financial year.

Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $5.9 million by the end of Jun 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $3.46 million and $4.04 million respectively.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -39.70%. While earnings are projected to return -368.20% in 2022, the next five years will return 10.00% per annum.

PSHG Dividends

Performance Shipping Inc. is due to release its next quarterly earnings between March 03 and March 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Performance Shipping Inc. (NASDAQ:PSHG)’s Major holders

Performance Shipping Inc. insiders own 11.64% of total outstanding shares while institutional holders control 10.75%, with the float percentage being 12.16%. Ruffer LLP is the largest shareholder of the company, while 9 institutions own stock in it. As of Mar 30, 2022, the company held over 0.11 million shares (or 4.07% of all shares), a total value of $0.32 million in shares.

The next largest institutional holding, with 51134.0 shares, is of Renaissance Technologies, LLC’s that is approximately 1.97% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $0.15 million.

Data provided on May 30, 2022 indicates that Fidelity NASDAQ Composite Index Fund owns about 40265.0 shares. This amounts to just over 1.55 percent of the company’s overall shares, with a $29876.0 market value.

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