Pingtan Marine Enterprise Ltd. (NASDAQ:PME – Get Rating) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 68,800 shares, a growth of 29.6% from the November 30th total of 53,100 shares. Based on an average daily trading volume, of 34,700 shares, the short-interest ratio is presently 2.0 days. Currently, 0.2% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on shares of Pingtan Marine Enterprise in a research note on Saturday. They issued a "sell" rating for the company.
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Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC grew its position in shares of Pingtan Marine Enterprise by 18.9% during the 1st quarter. Virtu Financial LLC now owns 96,964 shares of the company's stock valued at $62,000 after purchasing an additional 15,387 shares in the last quarter. UBS Group AG grew its position in Pingtan Marine Enterprise by 299.6% in the third quarter. UBS Group AG now owns 41,847 shares of the company's stock worth $35,000 after acquiring an additional 31,375 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Pingtan Marine Enterprise by 222.0% in the second quarter. Renaissance Technologies LLC now owns 122,021 shares of the company's stock worth $109,000 after acquiring an additional 84,121 shares in the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.
Pingtan Marine Enterprise Stock Performance
Shares of PME remained flat at $0.40 during mid-day trading on Friday. The company's 50-day moving average price is $0.63 and its 200-day moving average price is $0.82. The company has a market capitalization of $34.38 million, a price-to-earnings ratio of -10.00 and a beta of -0.82. The company has a quick ratio of 0.50, a current ratio of 0.75 and a debt-to-equity ratio of 2.27. Pingtan Marine Enterprise has a 1-year low of $0.00 and a 1-year high of $1.12.
Pingtan Marine Enterprise Company Profile
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Pingtan Marine Enterprise Ltd., together with its subsidiaries, engages in the ocean fishing business. The company catches a range of fish species, such as red fish, ribbon fish, sea catfish, seabream, shrimp, silver pomfret and seaperch, slender shad, sole fish, Spanish mackerel, and threadfin. As of December 31, 2021, it owned 51 squid jigging vessels, 26 trawlers, 25 seine vessels, 13 drifters, four longline fishing vessels, and 3 transport vessels, as well as had operating license rights to 20 drifters.
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