Pacific Basin Shipping (OTCMKTS:PCFBY) Shares Gap Down - Here's What Happened

Key Points

• Pacific Basin Shipping's shares gapped down from a previous close of $6.38 to open at $5.75, marking a significant drop of 9.9%.
• The company announced a dividend of $0.0326 per share, resulting in an unusual yield of 228.0%, despite cutting its dividend recently.
• Pacific Basin Shipping has strong liquidity metrics, with a current ratio of 1.48 and a quick ratio of 1.18, as well as a low debt-to-equity ratio of 0.06.

Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - )'s share price gapped down prior to trading on Monday . The stock had previously closed at $6.38, but opened at $5.75. Pacific Basin Shipping shares last traded at $5.75, with a volume of 153 shares.

Pacific Basin Shipping Stock Down 9.9%

The stock's 50 day moving average price is $5.56 and its two-hundred day moving average price is $4.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.48 and a quick ratio of 1.18.

Pacific Basin Shipping Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, September 19th. Investors of record on Monday, August 25th were paid a dividend of $0.0326 per share. This represents a yield of 228.0%. The ex-dividend date was 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.

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