Diana Shipping Inc. (NYSE:DSX) Short Interest Down 10.6% in November

Diana Shipping Inc. (NYSE:DSX) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,180,000 shares, a drop of 10.6% from the November 15th total of 1,320,000 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average trading volume of 625,000 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Diana Shipping from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DSX. Pekin Hardy Strauss Inc. purchased a new position in Diana Shipping in the third quarter valued at about $3,164,000. Marshall Wace LLP increased its stake in Diana Shipping by 197.9% in the 2nd quarter. Marshall Wace LLP now owns 403,909 shares of the shipping company’s stock valued at $1,155,000 after purchasing an additional 268,337 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Diana Shipping during the second quarter worth $257,000. GSA Capital Partners LLP purchased a new stake in Diana Shipping during the third quarter worth $176,000. Finally, Walleye Capital LLC grew its holdings in Diana Shipping by 55.1% in the third quarter. Walleye Capital LLC now owns 48,067 shares of the shipping company’s stock valued at $124,000 after purchasing an additional 17,067 shares during the last quarter. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

Diana Shipping Stock Performance

Shares of DSX stock remained flat at $1.85 on Tuesday. 535,135 shares of the company were exchanged, compared to its average volume of 665,861. Diana Shipping has a 12-month low of $1.73 and a 12-month high of $3.22. The company has a quick ratio of 2.04, a current ratio of 2.10 and a debt-to-equity ratio of 1.27. The stock has a market cap of $231.54 million, a P/E ratio of 61.67 and a beta of 1.09. The company’s fifty day moving average price is $2.14 and its 200 day moving average price is $2.46.

Diana Shipping (NYSE:DSX) last issued its earnings results on Monday, November 25th. The shipping company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Diana Shipping had a return on equity of 4.42% and a net margin of 5.36%. The business had revenue of $57.50 million for the quarter, compared to analyst estimates of $55.50 million. During the same quarter last year, the company earned $0.06 EPS. The business’s quarterly revenue was down 7.4% on a year-over-year basis.

Diana Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, December 11th. Diana Shipping’s dividend payout ratio (DPR) is presently 133.33%.

About Diana Shipping

Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of March 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.