Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) Short Interest Down 56.6% in March

Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN - Get Free Report) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 9,200 shares, a drop of 56.6% from the March 15th total of 21,200 shares. Based on an average daily trading volume, of 19,600 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.3% of the company's stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GRIN. Quantbot Technologies LP bought a new position in Grindrod Shipping in the first quarter valued at about $35,000. Captrust Financial Advisors bought a new position in Grindrod Shipping in the first quarter valued at about $38,000. Advisory Services Network LLC grew its holdings in shares of Grindrod Shipping by 317.2% during the first quarter. Advisory Services Network LLC now owns 4,080 shares of the company's stock worth $43,000 after purchasing an additional 3,102 shares during the last quarter. UBS Group AG grew its holdings in shares of Grindrod Shipping by 4,103.9% during the second quarter. UBS Group AG now owns 5,423 shares of the company's stock worth $93,000 after purchasing an additional 5,294 shares during the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of Grindrod Shipping during the second quarter worth about $102,000.

Grindrod Shipping Price Performance

Shares of NASDAQ GRIN traded up $0.01 during mid-day trading on Thursday, reaching $13.61. The company had a trading volume of 53,195 shares, compared to its average volume of 20,219. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.01 and a current ratio of 1.13. Grindrod Shipping has a one year low of $6.80 and a one year high of $14.90. The firm has a market cap of $261.99 million, a price-to-earnings ratio of -27.22 and a beta of 0.75. The business's 50-day simple moving average is $10.05 and its 200 day simple moving average is $9.58.

Grindrod Shipping (NASDAQ:GRIN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.04) EPS for the quarter. Grindrod Shipping had a negative return on equity of 2.89% and a negative net margin of 2.49%. The company had revenue of $69.17 million during the quarter.

Wall Street Analyst Weigh In

Separately, TheStreet cut shares of Grindrod Shipping from a "c" rating to a "d+" rating in a research note on Thursday, February 29th.

About Grindrod Shipping

Grindrod Shipping Holdings Ltd., an international shipping company, engages in owning, chartering, and operating a fleet of dry bulk carriers worldwide. It operates through three segments: Handysize, Supramax/Ultramax, and Others. The company operates a fleet of vessels comprising handysize and supramax/ultramax dry bulk carriers transporting various bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers; and engages in the ship management activities.

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