What The Financials Tell Us About Performance Shipping Inc. (PSHG)

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Performance Shipping Inc. (NASDAQ:PSHG) finished Wednesday with a subtraction of $0.0 to close at $0.24, a downside of -1.45 percent. An average of 1,629,640 shares of common stock have been traded in the last five days. There was a fall of -$0.0331 in the past week, and it reached a new high 7 times over the past 12 months. The last 20 days have seen an average of 3,292,260 shares traded, while the 50-day average volume stands at 7,937,246.

PSHG stock has decreased by -27.88% in the last month. The company shares reached their 1-month lowest point of $0.2310 on 09/21/22. With the stock rallying to its 52-week high on 03/08/22, shares of the company touched a low of $0.22 and a high of $6.10 in 52 weeks. It has reached a new high 3 times so far this year and lost -93.58% or -$3.4720 in price. In spite of this, the price is down -96.10% from the 52-week high.


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Valuation Metrics

Performance Shipping Inc. (PSHG) stock’s beta is 0.55. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.16, the price-to-book (PB) ratio at 0.01.

Financial Health

The quick ratio of Performance Shipping Inc. for the three months ended December 30 was 1.50, and the current ratio was 1.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.39 and a total debt to equity ratio of 0.52 for the quarter ending December 30. Its gross profit as reported stood at $4.99 million compared to revenue of $36.49 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Performance Shipping Inc.’s return on assets was -8.10%.

Earnings Surprise

For the three-month period that ended December 30, Performance Shipping Inc. had $49.9 million in total debt. The company posted a net income of $3.71 million in the quarter, while revenues were grew 964.15%. The analyst consensus anticipated Performance Shipping Inc.’s latest quarter earnings to come in at -$0.39 per share, but it turned out to be -$0.44, a -12.80% surprise.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Performance Shipping Inc. (PSHG) price momentum. RSI 9-day as of the close on 21 September was 28.61%, suggesting the stock is oversold, with historical volatility in this time frame at 39.88%.

As of today, PSHG’s price is $0.2495 -12.21% or -$0.0331 from its 5-day moving average. PSHG is currently trading -20.72% lower than its 20-day SMA and -90.95% lower than its 100-day SMA. However, the stock’s current price level is -57.92% below the SMA50 and -94.48% below the SMA200.

The stochastic %K and %D were 11.28% and 10.75%, respectively, and the average true range (ATR) was 0.0257. With the 14-day stochastic at 9.72% and the average true range at 0.0341, the RSI (14) stands at 35.16%. The stock has reached -0.0188 on the 9-day MACD Oscillator while the 14-day reading was at -0.0280.

Analyst Ratings

H.C. Wainwright launched coverage on Performance Shipping Inc. (NASDAQ: PSHG) in its analyst report released on March 29, 2021. The firm assigned the stock a Buy rating.

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