PS International Group Ltd. (NASDAQ:PSIG) Short Interest Up 189.9% in April

Key Points

• Short interest up 189.9% — short interest rose to 10,612 shares as of April 15 (about 0.4% of shares outstanding), though the days-to-cover is effectively 0.0 based on average daily volume of 360,966 shares.
• Analysts show an overall average "Sell" rating, with Weiss Ratings reissuing a "sell (d)" and Wall Street Zen recently moving the stock to "hold."
• Trading and institutional activity: PSIG traded at $6.32 (up $0.02) on heavy volume of 828,102 shares versus a 472,122 average, has a 52‑week range of $2.14–$7.30, and HRT Financial disclosed a new 23,299‑share (~0.27%) stake while institutions own about 29.7%.

PS International Group Ltd. (NASDAQ:PSIG - Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 10,612 shares, a growth of 189.9% from the March 31st total of 3,661 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 360,966 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

PSIG has been the subject of several recent analyst reports. Weiss Ratings reissued a "sell (d)" rating on shares of PS International Group in a report on Tuesday. Wall Street Zen raised PS International Group to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, PS International Group has an average rating of "Sell".

PS International Group Stock Up 0.3%

NASDAQ:PSIG traded up $0.02 during trading hours on Friday, hitting $6.32. 828,102 shares of the company were exchanged, compared to its average volume of 472,122. PS International Group has a one year low of $2.14 and a one year high of $7.30. The company has a fifty day simple moving average of $6.04 and a 200 day simple moving average of $4.93.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PS International Group stock. HRT Financial LP acquired a new position in PS International Group Ltd. (NASDAQ:PSIG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,299 shares of the company's stock, valued at approximately $113,000. HRT Financial LP owned approximately 0.27% of PS International Group at the end of the most recent quarter. Hedge funds and other institutional investors own 29.70% of the company's stock.

About PS International Group

PS International Group, Inc NASDAQ: PSIG is a specialized provider of engineered pipe supports, hangers and accessories for industrial applications. The company's product suite encompasses custom‐designed brackets, snubbers, spring supports, insulation components and vibration‐control solutions that help maintain the integrity of pressure piping systems under a wide range of operating conditions.

Serving diverse end markets—including oil and gas production, petrochemical processing, power generation, refining and industrial construction—PS International Group integrates in-house design, manufacturing and distribution capabilities to meet project-specific requirements.

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