Short Interest in PS International Group Ltd. (NASDAQ:PSIG) Increases By 808.2%

PS International Group Ltd. (NASDAQ:PSIG) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 288,594 shares, a growth of 808.2% from the May 14th total of 31,777 shares. Based on an average daily trading volume, of 1,356,614 shares, the days-to-cover ratio is presently 0.2 days. Approximately 6.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

PSIG has been the topic of several research analyst reports. Weiss Ratings downgraded shares of PS International Group from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Wall Street Zen raised shares of PS International Group to a “hold” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, PS International Group currently has an average rating of “Sell”.

Institutional Investors Weigh In On PS International Group

A hedge fund recently raised its stake in PS International Group stock. Renaissance Technologies LLC raised its position 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 Securities & Exchange Commission. The fund owned 26,401 shares of the company’s stock after acquiring an additional 15,424 shares during the period. Renaissance Technologies LLC owned approximately 0.17% of PS International Group worth $162,000 as of its most recent filing with the Securities & Exchange Commission. 29.70% of the stock is owned by institutional investors.

PS International Group Stock Up 0.1%

PS International Group stock opened at $9.72 on Wednesday. The firm’s fifty day moving average is $7.15 and its 200 day moving average is $5.72. PS International Group has a 52-week low of $2.23 and a 52-week high of $10.20.

PS International Group Company Profile

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.