Diana Shipping (NYSE:DSX) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Diana Shipping's share price has risen above its 200-day moving average of $1.58, reaching a high of $1.78 during trading, which indicates positive momentum in the stock.
• Analyst consensus ratings are predominantly negative, with multiple firms downgrading the stock to "sell," reflecting cautious sentiment among the investment community.
• The company reported better-than-expected earnings for the last quarter, with $0.03 EPS against estimates of $0.02, and achieved a net revenue of $54.69 million.

Diana Shipping inc. (NYSE:DSX - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.58 and traded as high as $1.78. Diana Shipping shares last traded at $1.71, with a volume of 221,258 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Diana Shipping in a research note on Saturday, September 27th. Wall Street Zen cut shares of Diana Shipping from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell".

Diana Shipping Trading Down 3.7%

The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.24 and a current ratio of 2.29. The firm has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $1.58. The firm has a market capitalization of $197.39 million, a P/E ratio of 28.42 and a beta of 0.82.

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

Diana Shipping Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.04 annualized dividend and a dividend yield of 2.3%. Diana Shipping's dividend payout ratio (DPR) is currently 66.67%.

Institutional Trading of Diana Shipping

Hedge funds have recently bought and sold shares of the business. Pekin Hardy Strauss Inc. raised its stake in shares of Diana Shipping by 17.2% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 2,841,710 shares of the shipping company's stock worth $4,149,000 after purchasing an additional 417,275 shares during the period. R Squared Ltd raised its position in Diana Shipping by 117.1% in the second quarter. R Squared Ltd now owns 35,600 shares of the shipping company's stock worth $52,000 after acquiring an additional 19,205 shares during the period. Vident Advisory LLC raised its position in Diana Shipping by 213.5% in the first quarter. Vident Advisory LLC now owns 459,051 shares of the shipping company's stock worth $716,000 after acquiring an additional 312,603 shares during the period. State of Wyoming bought a new stake in Diana Shipping in the first quarter worth about $44,000. Finally, Virtu Financial LLC bought a new stake in shares of Diana Shipping in the 1st quarter worth approximately $33,000. 48.68% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.