Pacific Basin Shipping (OTCMKTS:PCFBY) Shares Gap Up - Time to Buy?

Key Points

• Pacific Basin Shipping's stock price surged from $5.80 to $6.28 before market opening on Wednesday, representing an 8.3% increase.
• The company announced a dividend of $0.0326, payable on September 19th, with an impressive yield of 228.0%.
• Pacific Basin Shipping has a strong liquidity position, indicated by a current ratio of 1.62 and a low debt-to-equity ratio of 0.10.

Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.80, but opened at $6.28. Pacific Basin Shipping shares last traded at $6.28, with a volume of 14,657 shares trading hands.

Pacific Basin Shipping Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.48 and a quick ratio of 1.18. The firm has a 50-day moving average of $5.56 and a 200-day moving average of $4.99.

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. This represents a dividend yield of 228.0%. The ex-dividend date was Friday, August 22nd.

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.