Diana Shipping inc. (NYSE:DSX) Sees Large Increase in Short Interest

Key Points

• Diana Shipping experienced a significant increase in short interest, rising by 62.5% in July, with about 1.4% of the company's shares currently being short sold.
• Analysts have upgraded Diana Shipping's rating from "sell" to "hold", reflecting improved market sentiment towards the stock.
• The company announced a quarterly dividend of $0.01 per share, representing an annualized yield of 2.4%, set to be paid on September 11th.

Diana Shipping inc. (NYSE:DSX - Get Free Report) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totaling 888,700 shares, agrowthof62.5% from the July 15th total of 546,900 shares. Based on an average daily trading volume, of 273,400 shares, the short-interest ratio is presently 3.3 days. Currently,1.4% of the company's stock are sold short. Currently,1.4% of the company's stock are sold short. Based on an average daily trading volume, of 273,400 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Diana Shipping from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th.

Diana Shipping Stock Down 0.3%

Shares of Diana Shipping stock traded down $0.0050 during trading hours on Friday, reaching $1.6150. The company's stock had a trading volume of 327,082 shares, compared to its average volume of 296,104. Diana Shipping has a one year low of $1.27 and a one year high of $2.58. The company has a market capitalization of $186.97 million, a P/E ratio of 26.92 and a beta of 0.81. The stock's fifty day simple moving average is $1.57 and its two-hundred day simple moving average is $1.60. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.52 and a current ratio of 2.58.

Diana Shipping (NYSE:DSX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The shipping company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $54.69 million during the quarter, compared to the consensus estimate of $52.55 million. Diana Shipping had a net margin of 9.36% and a return on equity of 4.09%.

Diana Shipping Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a $0.01 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.04 annualized dividend and a dividend yield of 2.5%. Diana Shipping's dividend payout ratio is currently 66.67%.

Institutional Trading of Diana Shipping

Several institutional investors and hedge funds have recently made changes to their positions in DSX. Pekin Hardy Strauss Inc. raised its holdings in shares of Diana Shipping by 17.2% in the second quarter. Pekin Hardy Strauss Inc. now owns 2,841,710 shares of the shipping company's stock valued at $4,149,000 after purchasing an additional 417,275 shares during the last quarter. Vident Advisory LLC raised its holdings in shares of Diana Shipping by 213.5% in the first quarter. Vident Advisory LLC now owns 459,051 shares of the shipping company's stock valued at $716,000 after purchasing an additional 312,603 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Diana Shipping in the fourth quarter valued at about $272,000. Mackenzie Financial Corp purchased a new stake in shares of Diana Shipping in the first quarter valued at about $212,000. Finally, Blair William & Co. IL purchased a new stake in shares of Diana Shipping in the first quarter valued at about $78,000. Hedge funds and other institutional investors own 48.68% of the company's stock.

About Diana Shipping

Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of March 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.