Pingtan Marine Enterprise Ltd. (NASDAQ:PME) sees a significant drop in short-term interest
Pingtan Marine Enterprise Ltd. (NASDAQ: SME – Get a rating) was the target of a significant decline in short-term interest in May. As of May 15, there was short interest totaling 28,200 shares, down 46.5% from April 30’s total of 52,700 shares. Based on an average trading volume of 230,200 shares, the short-term interest rate ratio is currently 0.1 day. Approximately 0.1% of the company’s shares are sold short.
Separately, StockNews.com began covering Pingtan Marine Enterprise shares in a research note on Saturday, May 21. They put a “sell” mark on the stock.
A number of institutional investors have recently changed their SME portfolio. Virtu Financial LLC increased its stake in Pingtan Marine Enterprise by 18.9% during the first quarter. Virtu Financial LLC now owns 96,964 shares of the company valued at $62,000 after purchasing an additional 15,387 shares in the last quarter. Geode Capital Management LLC increased its stake in Pingtan Marine Enterprise by 51.0% during the fourth quarter. Geode Capital Management LLC now owns 62,069 shares of the company valued at $35,000 after purchasing an additional 20,962 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in Pingtan Marine Enterprise by 30.7% during the third quarter. Citadel Advisors LLC now owns 112,292 shares of the company valued at $84,000 after purchasing an additional 26,345 shares in the last quarter. Institutional investors hold 0.22% of the company’s shares.
Shares of Pingtan Marine Enterprise remained steady at $1.02 in Friday’s midday session. 249,404 shares of the company were traded, against an average volume of 233,134. The stock has a market capitalization of $87.66 million, a price-earnings ratio of -25.49 and a beta of -1, 09. The company’s 50-day simple moving average is $0.77 and its 200-day simple moving average is $0.70. Pingtan Marine Enterprise has a 12 month minimum of $0.42 and a 12 month maximum of $1.05. The company has a debt ratio of 2.94, a current ratio of 0.55 and a quick ratio of 0.23.
About Pingtan Marine Enterprise (Get a rating)
Pingtan Marine Enterprise Ltd., together with its subsidiaries, is engaged in sea fishing activities. The company catches a range of fish species, such as squid, ribbon fish, croaker fish and cuttlefish. As of December 31, 2020, it owned 51 jigging boats, 26 trawlers, 25 purse seiners, 13 drifting buoys, 4 longliners and 3 transport boats, as well as operating license rights for 20 drifting buoys.
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