Performance Shipping (PSHG) Receives a Buy from H.C. Wainwright

By Carrie Williams

In a report released today, Magnus Fyhr from H.C. Wainwright reiterated a Buy rating on Performance Shipping (PSHGResearch Report), with a price target of $11.00. The company’s shares closed last Friday at $4.81.

According to TipRanks.com, Fyhr has 0 stars on 0-5 stars ranking scale with an average return of -4.5% and a 32.1% success rate. Fyhr covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Ardmore Shipping.

Currently, the analyst consensus on Performance Shipping is a Moderate Buy with an average price target of $11.00.

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Performance Shipping’s market cap is currently $24.45M and has a P/E ratio of -4.50. The company has a Price to Book ratio of 0.26.

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Performance Shipping, Inc. engages in the provision of shipping transportation services through its ownership of containerships. Its vessels are employed primarily on time charters with liner companies carrying containerized cargo along worldwide shipping routes. Its fleet include the following vessels: Sagitta, CEntaurus, New Jersey, Pamina, Domingo, Puelo, Pucon, March, Great, Hamburg, and Rotterdam. The company was founded on January 7, 2010 and is headquartered in Athens, Greece.