Diana Shipping Inc. (NYSE:DSX) Short Interest Up 9.7% in March

Diana Shipping Inc. (NYSE:DSX - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,360,000 shares, a growth of 9.7% from the March 15th total of 1,240,000 shares. Approximately 2.0% of the company's shares are short sold. Based on an average daily volume of 696,100 shares, the short-interest ratio is currently 2.0 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Diana Shipping in a research report on Tuesday, February 6th. They set a "hold" rating for the company.

Diana Shipping Stock Down 1.0 %

DSX stock traded down $0.03 during midday trading on Monday, hitting $2.88. The company's stock had a trading volume of 466,830 shares, compared to its average volume of 709,563. The company has a quick ratio of 2.08, a current ratio of 2.14 and a debt-to-equity ratio of 1.19. Diana Shipping has a 52-week low of $2.81 and a 52-week high of $4.21. The firm has a market capitalization of $325.64 million, a P/E ratio of 6.70 and a beta of 1.20. The firm has a 50-day simple moving average of $2.93 and a 200-day simple moving average of $2.88.

Diana Shipping (NYSE:DSX - Get Free Report) last issued its quarterly earnings results on Friday, February 23rd. The shipping company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Diana Shipping had a net margin of 19.02% and a return on equity of 10.34%. The company had revenue of $56.69 million during the quarter, compared to analysts' expectations of $61.02 million. As a group, equities analysts forecast that Diana Shipping will post 0.29 EPS for the current year.

Diana Shipping Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a $0.075 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 10.42%. Diana Shipping's payout ratio is 69.77%.

Institutional Investors Weigh In On Diana Shipping

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC raised its holdings in shares of Diana Shipping by 23.4% in the 1st quarter. Lazard Asset Management LLC now owns 16,467 shares of the shipping company's stock valued at $88,000 after purchasing an additional 3,121 shares in the last quarter. State of Wyoming raised its holdings in shares of Diana Shipping by 13.8% in the 4th quarter. State of Wyoming now owns 27,547 shares of the shipping company's stock valued at $107,000 after purchasing an additional 3,341 shares in the last quarter. Raymond James Trust N.A. raised its stake in Diana Shipping by 30.1% during the 2nd quarter. Raymond James Trust N.A. now owns 14,597 shares of the shipping company's stock worth $54,000 after acquiring an additional 3,375 shares in the last quarter. Invesco Ltd. raised its stake in Diana Shipping by 4.9% during the 3rd quarter. Invesco Ltd. now owns 87,940 shares of the shipping company's stock worth $305,000 after acquiring an additional 4,136 shares in the last quarter. Finally, Wolverine Trading LLC raised its stake in Diana Shipping by 25.2% during the 3rd quarter. Wolverine Trading LLC now owns 21,692 shares of the shipping company's stock worth $75,000 after acquiring an additional 4,361 shares in the last quarter. 48.68% of the stock is currently owned by institutional investors and hedge funds.

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.