PS International Group Ltd. (NASDAQ:PSIG) Stock Short Interest Jumps 403.9%

PS International Group Ltd. (NASDAQ:PSIG) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 27,510 shares, an increase of 403.9% from the August 31st total of 5,459 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,277,382 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in PS International Group stock. Renaissance Technologies LLC grew its holdings in shares of PS International Group Ltd. (NASDAQ:PSIG) by 140.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,401 shares of the company’s stock after purchasing an additional 15,424 shares during the period. Renaissance Technologies LLC owned approximately 0.17% of PS International Group worth $162,000 at the end of the most recent reporting period. 29.70% of the stock is owned by hedge funds and other institutional investors.

PS International Group Stock Performance

Shares of NASDAQ PSIG traded down $0.03 during midday trading on Friday, hitting $4.57. 2,106,478 shares of the company’s stock were exchanged, compared to its average volume of 1,318,722. PS International Group has a twelve month low of $1.03 and a twelve month high of $12.00. The stock’s 50 day moving average price is $2.07 and its 200-day moving average price is $4.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings cut PS International Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. Wall Street Zen lowered shares of PS International Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About PS International Group

PS International Group Limited (NASDAQ: PSIG) is a supply chain management company serving participants in the apparel industry. The company helps coordinate the sourcing and supply of apparel-related materials and products for manufacturers, brands and other customers.

Its activities have included the procurement and trading of textiles, fabrics and other apparel materials, along with related production and supply chain coordination services. Through these operations, PS International Group supports customers across multiple stages of the apparel supply process, from sourcing materials to arranging production and delivery.

PS International Group is headquartered in Asia and primarily serves customers and business partners in the region.