Pacific Basin Shipping (OTCMKTS:PCFBY) Shares Gap Up - Here's Why

Key Points

• Pacific Basin Shipping's shares gapped up from $5.75 to $6.25 prior to market opening on Tuesday, indicating positive investor sentiment.
• The company reported a dividend yield of 228.0%, having issued a modest dividend of $0.0326 per share to stockholders.
• Pacific Basin Shipping maintains a low debt-to-equity ratio of 0.06, suggesting strong financial stability compared to its capital structure.

Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - ) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.75, but opened at $6.25. Pacific Basin Shipping shares last traded at $6.25, with a volume of 112 shares.

Pacific Basin Shipping Stock 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 company's 50-day moving average price is $5.58 and its 200-day moving average price is $5.00.

Pacific Basin Shipping Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 19th. Stockholders of record on Monday, August 25th were issued a $0.0326 dividend. This represents a dividend 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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