Ashar Jawad
1 min read
In This Article:
Performance Shipping Inc. (NASDAQ:PSHG) is among the 10 Most Undervalued Stocks to Buy for Under $5. The company provides shipping transportation services through tanker vessels. It employs its fleet on spot voyages, through on-time charters and pool arrangements.
The stock has had impressive gains of over 13% in the past month, driven mainly by Performance Shipping Inc. (NASDAQ:PSHG)’s recent financial performance and its engagement with investors on fleet expansion.
A view of a tanker vessel and its crew at a Mediterranean dockside.
Performance Shipping Inc. (NASDAQ:PSHG) reported net income attributable to common stockholders of $29 million for Q1 FY25, up from $11 million in the prior year. Revenue stood at $21.3 million, down only slightly from $22.4 million a year ago, due to a decrease in the ownership days following the sale of the P. Yanbu vessel in March.
On June 4, Performance Shipping Inc. (NASDAQ:PSHG) announced it would arrange fixed income investors calls and that a 5-year USD-denominated senior unsecured bond issue may follow, with the proceeds being used to expand and renew the company’s fleet and also meet general corporate purposes.
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Disclosure: None.
