Short Interest in Diamond S Shipping Inc (NYSE:DSSI) Declines By 15.6%

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Diamond S Shipping Inc (NYSE:DSSI) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 169,900 shares, a decrease of 15.6% from the December 15th total of 201,300 shares. Based on an average trading volume of 381,400 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.7% of the shares of the company are sold short.

Shares of NYSE DSSI traded down $0.57 during trading hours on Tuesday, hitting $14.60. 668,400 shares of the stock were exchanged, compared to its average volume of 483,589. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.81 and a current ratio of 0.98. The company’s fifty day simple moving average is $15.54 and its two-hundred day simple moving average is $13.40. Diamond S Shipping has a 1-year low of $9.60 and a 1-year high of $17.50.

Diamond S Shipping (NYSE:DSSI) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.06). The company had revenue of $141.53 million for the quarter, compared to analyst estimates of $153.06 million. As a group, research analysts expect that Diamond S Shipping will post 0.65 earnings per share for the current fiscal year.

In other news, major shareholder Reserve Gp Xii Ltd First sold 3,950,681 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $13.75, for a total transaction of $54,321,863.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Recovery Fund Iv Dss Aiv Wlr sold 99,130 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $14.47, for a total transaction of $1,434,411.10. Over the last three months, insiders sold 4,710,681 shares of company stock worth $64,664,802.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Diamond S Shipping by 64,517.2% during the 2nd quarter. BlackRock Inc. now owns 1,072,000 shares of the company’s stock worth $13,689,000 after acquiring an additional 1,070,341 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Diamond S Shipping by 39.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 833,338 shares of the company’s stock worth $9,183,000 after acquiring an additional 235,954 shares in the last quarter. State Street Corp boosted its position in shares of Diamond S Shipping by 25.2% during the 3rd quarter. State Street Corp now owns 367,327 shares of the company’s stock worth $4,048,000 after acquiring an additional 73,972 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Diamond S Shipping by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 235,539 shares of the company’s stock worth $2,768,000 after acquiring an additional 45,340 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. acquired a new stake in shares of Diamond S Shipping during the 2nd quarter worth approximately $2,599,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

Several research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Diamond S Shipping in a report on Thursday, October 10th. They set a “buy” rating and a $19.00 target price on the stock. Zacks Investment Research raised shares of Diamond S Shipping from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a report on Tuesday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Diamond S Shipping presently has an average rating of “Buy” and a consensus price target of $19.20.

About Diamond S Shipping

Diamond S Shipping Inc operates as a shipping company. The company operates through two segments, Crude Tankers and Product Tankers. It provides seaborne transportation of crude oil, refined petroleum, and other production. As of March 28, 2019, it owned and operated a fleet of 68 vessels, including 15 Suezmax vessels, 1 Aframax, and 52 medium-range product tankers.

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