Equities researchers at StockNews.com initiated coverage on shares of Pingtan Marine Enterprise (NASDAQ:PME – Get Rating) in a research report issued on Sunday. The brokerage set a "sell" rating on the stock.
Pingtan Marine Enterprise Price Performance
NASDAQ PME opened at $0.37 on Friday. The firm has a market cap of $31.97 million, a PE ratio of -9.30 and a beta of -0.67. Pingtan Marine Enterprise has a one year low of $0.00 and a one year high of $1.12. The stock's 50 day simple moving average is $0.58 and its 200 day simple moving average is $0.79. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.75 and a quick ratio of 0.50.
Get Pingtan Marine Enterprise alerts:Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in PME. Renaissance Technologies LLC raised its stake in Pingtan Marine Enterprise by 222.0% during the 2nd quarter. Renaissance Technologies LLC now owns 122,021 shares of the company's stock worth $109,000 after buying an additional 84,121 shares during the period. Virtu Financial LLC raised its stake in Pingtan Marine Enterprise by 18.9% during the 1st quarter. Virtu Financial LLC now owns 96,964 shares of the company's stock worth $62,000 after buying an additional 15,387 shares during the period. Finally, UBS Group AG raised its stake in Pingtan Marine Enterprise by 299.6% during the 3rd quarter. UBS Group AG now owns 41,847 shares of the company's stock worth $35,000 after buying an additional 31,375 shares during the period. 0.38% of the stock is currently owned by institutional investors.
About Pingtan Marine Enterprise
(Get Rating)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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