Pacific Basin Shipping (OTCMKTS:PCFBY) Stock Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Shares of Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY) crossed above its fifty-day moving average of $5.35, reaching a high of $5.56 during trading.
• The company recently declared a dividend of $0.0326 per share, representing a remarkable dividend yield of 228.0%.
• Pacific Basin Shipping operates globally in the provision of dry bulk shipping services for various commodities including grains, ores, and fertilizers.

Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - Get Free Report)'s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.35 and traded as high as $5.56. Pacific Basin Shipping shares last traded at $5.56, with a volume of 120 shares changing hands.

Pacific Basin Shipping Price Performance

The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.10. The business's 50 day moving average price is $5.39 and its 200-day moving average price is $4.87.

Pacific Basin Shipping Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 25th will be given a $0.0326 dividend. This represents a yield of 228.0%. The ex-dividend date is Friday, August 22nd.

Pacific Basin Shipping Company Profile

Pacific Basin Shipping Limited, an investment holding company, engages in the provision of dry bulk shipping services worldwide. The company offers its shipping services that mainly carry major and minor bulks, including grains, ores, logs/forest products, bauxite, sugar, concentrates, cement and clinkers, coal/coke, fertilizers, alumina, steel, pet-coke, salt, sand and gypsum, and scrap.