Short Interest in PS International Group Ltd. (NASDAQ:PSIG) Decreases By 18.3%

Key Points

• Short interest down 18.3% — short interest fell to 3,661 shares as of March 31 (about 0.1% of the stock) with a days-to-cover ratio of 0.0.
• Renaissance Technologies opened a new position of 10,977 shares (~$54,000) in Q4, and institutional investors now own roughly 29.7% of PSIG.
• Shares traded down 6.3% to $6.51 on heavy volume (~1.31M vs. avg ~302k), and Weiss Ratings plus MarketBeat’s consensus currently classify the stock as a "Sell."

PS International Group Ltd. (NASDAQ:PSIG - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 3,661 shares, a decline of 18.3% from the March 15th total of 4,482 shares. Based on an average daily volume of 195,949 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the company's stock are short sold.

Hedge Funds Weigh In On PS International Group

A hedge fund recently bought a new stake in PS International Group stock. Renaissance Technologies LLC acquired a new position in PS International Group Ltd. (NASDAQ:PSIG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,977 shares of the company's stock, valued at approximately $54,000. Renaissance Technologies LLC owned approximately 0.13% of PS International Group at the end of the most recent quarter. 29.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of PS International Group in a research note on Thursday, January 22nd. One equities 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 Trading Down 6.3%

Shares of NASDAQ PSIG traded down $0.44 during mid-day trading on Thursday, reaching $6.51. The company had a trading volume of 1,306,047 shares, compared to its average volume of 301,903. PS International Group has a twelve month low of $2.14 and a twelve month high of $7.30. The stock's 50 day moving average is $5.95 and its 200-day moving average is $4.83.

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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