Diana Shipping inc. (NYSE:DSX) Short Interest Update

Key Points

• Short interest surged 67.5% to 4.27 million shares as of September 15, representing 3.4% of Diana Shipping’s outstanding shares and 2.9 days to cover.
• Diana Shipping reported quarterly EPS of $0.16, exceeding the $0.02 consensus estimate, while revenue of $57.29 million also topped expectations.
• DSX shares traded around $2.75, with a $342.8 million market capitalization; institutional investors and hedge funds own 48.68% of the stock, while analysts maintain an overall “Hold” rating.

Diana Shipping inc. (NYSE:DSX - Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 4,273,804 shares, an increase of 67.5% from the August 31st total of 2,552,051 shares. Based on an average daily trading volume, of 1,469,407 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers bought a new position in shares of Diana Shipping during the first quarter valued at $26,000. EverSource Wealth Advisors LLC grew its stake in shares of Diana Shipping by 71.2% in the first quarter. EverSource Wealth Advisors LLC now owns 10,942 shares of the shipping company's stock worth $27,000 after purchasing an additional 4,550 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Diana Shipping by 159.0% in the first quarter. Blue Trust Inc. now owns 12,839 shares of the shipping company's stock worth $32,000 after purchasing an additional 7,881 shares during the last quarter. BlackRock Inc. acquired a new stake in Diana Shipping in the second quarter valued at $47,000. Finally, Lazard Asset Management LLC bought a new position in Diana Shipping during the 1st quarter worth $98,000. Institutional investors and hedge funds own 48.68% of the company's stock.

Diana Shipping Price Performance

Shares of DSX stock traded up $0.01 on Wednesday, reaching $2.75. The company had a trading volume of 658,720 shares, compared to its average volume of 842,185. The stock has a market capitalization of $342.76 million, a PE ratio of 5.74 and a beta of 0.51. The company has a quick ratio of 2.01, a current ratio of 2.05 and a debt-to-equity ratio of 0.92. Diana Shipping has a one year low of $1.57 and a one year high of $3.20. The business's 50-day moving average is $2.67 and its 200 day moving average is $2.50.

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

Diana Shipping Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.04 annualized dividend and a dividend yield of 1.5%. Diana Shipping's dividend payout ratio (DPR) is 8.33%.

Wall Street Analyst Weigh In

DSX has been the topic of several analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Diana Shipping in a research report on Monday, July 20th. Wall Street Zen upgraded Diana Shipping from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".

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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