Pacific Basin Shipping (OTCMKTS:PCFBY) Share Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Pacific Basin Shipping's stock recently crossed above its 50-day moving average of $5.35, reaching a high of $5.62, indicating potential bullish momentum.
• Despite the positive stock performance, the company declared a dividend of $0.0326 per share, a significant 228.0% yield, but has recently cut its dividend.
• The company maintains a low debt-to-equity ratio of 0.10, along with solid liquidity ratios, suggesting a stable financial position.

Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.35 and traded as high as $5.62. Pacific Basin Shipping shares last traded at $5.62, with a volume of 732 shares changing hands.

Pacific Basin Shipping Stock Performance

The business's 50 day moving average is $5.34 and its 200-day moving average is $4.80. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.10.

Pacific Basin Shipping Cuts Dividend

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

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.