StockNews.com assumed coverage on shares of Pingtan Marine Enterprise (NASDAQ:PME – Get Rating) in a report released on Wednesday morning. The firm issued a sell rating on the stock.

Pingtan Marine Enterprise Stock Performance

Pingtan Marine Enterprise stock opened at $0.66 on Wednesday. The stock has a fifty day moving average price of $0.74 and a two-hundred day moving average price of $0.87. 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 firm has a market capitalization of $56.46 million, a P/E ratio of -16.42 and a beta of -0.82. Pingtan Marine Enterprise has a 52-week low of $0.42 and a 52-week high of $1.12.

Institutional Trading of Pingtan Marine Enterprise

Several large investors have recently made changes to their positions in PME. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 84,121 shares during the last quarter. UBS Group AG grew its holdings 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 purchasing an additional 31,375 shares during the last quarter. Finally, Virtu Financial LLC grew its holdings 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 purchasing an additional 15,387 shares during the last quarter. Institutional investors own 0.43% of the company's stock.

Pingtan Marine Enterprise Company Profile

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.

Further Reading

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