StockNews.com initiated coverage on shares of Pingtan Marine Enterprise (NASDAQ:PME – Get Rating) in a report issued on Monday. The firm set a "sell" rating on the stock.

Pingtan Marine Enterprise Stock Performance

NASDAQ PME opened at $0.27 on Monday. The company has a market cap of $23.20 million, a P/E ratio of -6.75 and a beta of -0.71. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.75 and a quick ratio of 0.50. The stock has a 50-day moving average of $0.33 and a two-hundred day moving average of $0.60. Pingtan Marine Enterprise has a 1-year low of $0.00 and a 1-year high of $1.12.

Hedge Funds Weigh In On Pingtan Marine Enterprise

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its position in shares of Pingtan Marine Enterprise by 222.0% during the second quarter. Renaissance Technologies LLC now owns 122,021 shares of the company's stock worth $109,000 after buying an additional 84,121 shares in the last quarter. Virtu Financial LLC grew its position in shares of Pingtan Marine Enterprise by 18.9% during the first quarter. Virtu Financial LLC now owns 96,964 shares of the company's stock worth $62,000 after buying an additional 15,387 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Pingtan Marine Enterprise by 299.6% during the third quarter. UBS Group AG now owns 41,847 shares of the company's stock worth $35,000 after buying an additional 31,375 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Pingtan Marine Enterprise Company Profile

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Pingtan Marine Enterprise Ltd., through its subsidiary, engages in ocean fishing and sale of frozen marine catches. Its products include Japanese threadfin bream, red fish, ribbon fish, sea catfish, seabream, shrimp, silver pomfret, silver seaperch, slender shad, and spanish mackarel. The company was founded on February 27, 1998 and is headquartered in Fuzhou, China.

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