StockNews.com assumed coverage on shares of Pingtan Marine Enterprise (NASDAQ:PME – Get Rating) in a research report released on Sunday morning. The firm issued a sell rating on the stock.
Pingtan Marine Enterprise Trading Down 3.3 %
Shares of PME opened at $0.36 on Friday. Pingtan Marine Enterprise has a 1 year low of $0.00 and a 1 year high of $1.12. The company has a current ratio of 0.75, a quick ratio of 0.50 and a debt-to-equity ratio of 2.27. The stock has a 50 day simple moving average of $0.57 and a 200-day simple moving average of $0.78. The stock has a market cap of $30.92 million, a PE ratio of -8.99 and a beta of -0.67.
Get Pingtan Marine Enterprise alerts:Hedge Funds Weigh In On Pingtan Marine Enterprise
Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of Pingtan Marine Enterprise by 222.0% in 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 in the last quarter. Virtu Financial LLC increased its holdings in 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. Finally, UBS Group AG increased its holdings in Pingtan Marine Enterprise by 299.6% during the 3rd quarter. UBS Group AG now owns 41,847 shares of the company's stock valued at $35,000 after purchasing an additional 31,375 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.
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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