Performance Shipping Inc. (NASDAQ:PSHG) finished Friday with an addition of $0.08 to close at $1.51, an upside of 5.59 percent. An average of 822,180 shares of common stock have been traded in the last five days. There was a gain of $0.0100 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 533,170 shares traded, while the 50-day average volume stands at 311,256.
PSHG stock has increased by 71.61% in the last month. The company shares reached their 1-month lowest point of $0.8150 on 07/26/23. With the stock rallying to its 52-week high on 01/03/23, shares of the company touched a low of $0.68 and a high of $5.18 in 52 weeks. It has reached a new high 1 time so far this year and lost -57.34% or -$2.0300 in price. In spite of this, the price is down -70.82% from the 52-week high.
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Valuation Metrics
Performance Shipping Inc. (PSHG) has a trailing price-to-earnings (P/E) ratio of 0.57. The stock’s beta is 0.02. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.15, the price-to-book (PB) ratio at 0.09, and the price-to-cash flow ratio at 0.22.
Financial Health
Further, the company has a long term debt to equity ratio of 0.60 and a total debt to equity ratio of 0.60 for the quarter ending December 30. Performance Shipping Inc.’s EBITDA margin for the year ending December 30 is 52.81%, while its operating margin for the same period stands at 67.10%. Its gross profit as reported stood at $46.48 million compared to revenue of $75.17 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 14.90%.
Earnings Surprise
For the three-month period that ended December 30, Performance Shipping Inc. had $110.93 million in total debt. The company posted a net income of $12.0 million in the quarter, while revenues were grew 69.08%. 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. For the quarter, EBITDA amounted to $19.8 million.
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 25 August was 71.14%, suggesting the stock is Overbought, with historical volatility in this time frame at 59.38%.
As of today, PSHG’s price is $1.4740 +0.67% or $0.0100 from its 5-day moving average. PSHG is currently trading +70.81% higher than its 20-day SMA and +96.10% higher than its 100-day SMA. However, the stock’s current price level is +112.35% above the SMA50 and -63.85% below the SMA200.
The stochastic %K and %D were 67.20% and 69.39%, respectively, and the average true range (ATR) was 0.1440. With the 14-day stochastic at 75.01% and the average true range at 0.1264, the RSI (14) stands at 73.02%. The stock has reached -0.0122 on the 9-day MACD Oscillator while the 14-day reading was at 0.0624.
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. The consensus rating for Performance Shipping Inc. (PSHG) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PSHG, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is PSHG’s price target for the next 12 months?
Analysts predict a range of price targets between $4.00 and $4.00, with a median target of $4.00. Taking a look at these predictions, the average price target given by analysts for Performance Shipping Inc. (PSHG) stock is $4.00.
