Pacific Basin Shipping Limited (OTCMKTS:PCFBY) Short Interest Up 700.0% in May

Pacific Basin Shipping Limited (OTCMKTS:PCFBY) was the recipient of a large increase in short interest during the month of May. As of May 28th, there was short interest totalling 3,200 shares, an increase of 700.0% from the May 13th total of 400 shares. Based on an average daily volume of 800 shares, the days-to-cover ratio is presently 4.0 days.

Separately, Zacks Investment Research lowered Pacific Basin Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, May 5th.

Shares of PCFBY stock traded up $0.55 during trading on Friday, reaching $7.90. 273 shares of the company’s stock traded hands, compared to its average volume of 1,479. The company has a market capitalization of $1.90 billion, a P/E ratio of -197.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.21. The stock has a 50-day moving average price of $6.77. Pacific Basin Shipping has a 1 year low of $2.52 and a 1 year high of $7.90.

About Pacific Basin Shipping

Pacific Basin Shipping Limited, an investment holding company, provides dry bulk shipping services worldwide. As of February 29, 2020, the company had a fleet of 235 ships, including 133 Handysize vessels, 117 Supramax vessels, and 2 Post-Panamax vessels. It also offers shipping consulting, ocean shipping, crewing, secretarial, and agency and ship management services; and engages in the vessel owning and chartering, and convertible bonds issuing activities.

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