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

Key Points

• Short interest surged 61.2% to 2.55 million shares as of August 31, representing 2.1% of Diana Shipping’s outstanding stock and a days-to-cover ratio of 2.3.
• Diana Shipping shares reached $3.08, near their 52-week high of $3.10. The company beat quarterly earnings expectations, reporting $0.16 in EPS versus the $0.02 consensus estimate, with revenue of $57.29 million.
• Analyst sentiment remains mixed but centers on a “Hold” consensus; the company also paid a quarterly dividend of $0.01 per share, equivalent to a 1.3% annualized yield.

Diana Shipping inc. (NYSE:DSX - Get Free Report) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 2,552,051 shares, an increase of 61.2% from the August 15th total of 1,582,824 shares. Based on an average daily volume of 1,094,568 shares, the days-to-cover ratio is presently 2.3 days. Currently, 2.1% of the company's stock are sold short.

Analyst Ratings Changes

A number of analysts have recently weighed in on DSX shares. Weiss Ratings restated a "hold (c-)" rating on shares of Diana Shipping in a report on Monday, July 20th. Wall Street Zen raised shares of Diana Shipping from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Diana Shipping Stock Performance

Shares of DSX stock traded up $0.09 during mid-day trading on Thursday, reaching $3.08. The stock had a trading volume of 2,728,209 shares, compared to its average volume of 819,107. Diana Shipping has a 1-year low of $1.57 and a 1-year high of $3.10. The company has a current ratio of 2.05, a quick ratio of 2.01 and a debt-to-equity ratio of 0.92. The firm has a market cap of $382.56 million, a price-to-earnings ratio of 6.41 and a beta of 0.51. The business's fifty day moving average is $2.53 and its 200-day moving average is $2.47.

Diana Shipping (NYSE:DSX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The shipping company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. The business had revenue of $57.29 million during the quarter, compared to analysts' expectations of $54.60 million. Diana Shipping had a net margin of 27.88% and a return on equity of 7.55%.

Diana Shipping Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 21st. Diana Shipping's dividend payout ratio (DPR) is 8.33%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DSX. Cetera Investment Advisers acquired a new stake in shares of Diana Shipping during the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Diana Shipping by 71.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,942 shares of the shipping company's stock valued at $27,000 after purchasing an additional 4,550 shares during the period. Blue Trust Inc. boosted its holdings in Diana Shipping by 159.0% during the first quarter. Blue Trust Inc. now owns 12,839 shares of the shipping company's stock worth $32,000 after buying an additional 7,881 shares in the last quarter. BlackRock Inc. purchased a new stake in Diana Shipping during the second quarter worth $47,000. Finally, Mercuria Capital Strategies LLC acquired a new stake in Diana Shipping during the fourth quarter valued at $88,000. 48.68% of the stock is owned by institutional investors and hedge funds.

About Diana Shipping

Diana Shipping Inc NYSE: DSX is a global shipping company that owns and operates dry bulk vessels. Its fleet transports major commodities, including iron ore, grain, and coal, as well as other dry bulk cargoes used in international trade.

The company's vessels primarily operate under time charter and voyage charter arrangements with customers around the world. Diana Shipping serves a broad range of international trade routes, connecting commodity producers, exporters, and importers across the major shipping regions.

Founded in 1999, Diana Shipping is headquartered in Athens, Greece, and has been listed on the New York Stock Exchange since 2005.

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