Pacific Basin Shipping (OTCMKTS:PCFBY) Shares Gap Down - Should You Sell?

Key Points

• Pacific Basin Shipping shares gapped down from a closing price of $6.23 to $5.69 at market open on Tuesday, with a trading volume of 276 shares.
• The company recently cut its dividend to $0.0326 per share with a yield of 228.0%, following the payment on September 19th for stockholders of record from August 25th.
• Pacific Basin Shipping maintains a low debt-to-equity ratio of 0.06, and its current and quick ratios stand at 1.48 and 1.18, respectively.

Shares of Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - ) gapped down before the market opened on Tuesday . The stock had previously closed at $6.23, but opened at $5.69. Pacific Basin Shipping shares last traded at $5.69, with a volume of 276 shares changing hands.

Pacific Basin Shipping Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.18 and a current ratio of 1.48. The firm has a 50 day moving average price of $5.75 and a two-hundred day moving average price of $5.11.

Pacific Basin Shipping Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, September 19th. Stockholders of record on Monday, August 25th were paid a dividend of $0.0326 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a dividend yield of 228.0%.

About Pacific Basin Shipping

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.