Pacific Basin Shipping Limited (OTCMKTS:PCFBY) Sees Large Growth in Short Interest

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Pacific Basin Shipping Limited (OTCMKTS:PCFBY) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 1,700 shares, an increase of 466.7% from the December 15th total of 300 shares. Based on an average daily trading volume, of 400 shares, the days-to-cover ratio is currently 4.3 days.

Shares of PCFBY stock opened at $4.29 on Thursday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 39.00 and a beta of 0.21. Pacific Basin Shipping has a 52-week low of $2.25 and a 52-week high of $4.29. The company has a quick ratio of 1.20, a current ratio of 1.41 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average is $3.64 and its 200 day moving average is $3.05.

Separately, Zacks Investment Research upgraded shares of Pacific Basin Shipping from a “sell” rating to a “hold” rating in a report on Wednesday, September 30th.

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 139 Handysize vessels and 96 Supramax vessels. It also offers shipping consulting, ocean shipping, crewing, secretarial, and agency and ship management services, as well as issues convertible bonds.

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