Diana Shipping (NYSE:DSX) Shares Cross Above 200 Day Moving Average - Here's What Happened

Diana Shipping inc. (NYSE:DSX - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.59 and traded as high as $1.71. Diana Shipping shares last traded at $1.70, with a volume of 262,572 shares changing hands.

Analysts Set New Price Targets

DSX has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d)" rating on shares of Diana Shipping in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Diana Shipping from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of "Sell".

Diana Shipping Stock Performance

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 market cap of $196.24 million, a P/E ratio of 28.25 and a beta of 0.82. The business's 50-day simple moving average is $1.72 and its 200 day simple moving average is $1.59.

Diana Shipping (NYSE:DSX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The shipping company reported $0.03 EPS for the quarter, topping 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 business had revenue of $54.69 million during the quarter, compared to the consensus estimate of $52.55 million.

Diana Shipping Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 21st. Diana Shipping's payout ratio is 66.67%.

Institutional Investors Weigh In On Diana Shipping

A number of large investors have recently added to or reduced their stakes in the stock. Pekin Hardy Strauss Inc. grew its position in Diana Shipping by 17.2% in 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. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Diana Shipping during the 3rd quarter valued at $1,088,000. Vident Advisory LLC grew its position in shares of Diana Shipping by 213.5% during the 1st quarter. Vident Advisory LLC now owns 459,051 shares of the shipping company's stock valued at $716,000 after acquiring an additional 312,603 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Diana Shipping during the 1st quarter valued at $212,000. Finally, Blair William & Co. IL bought a new stake in shares of Diana Shipping during the 1st quarter valued at $78,000. 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.

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