Pingtan Marine Enterprise (NASDAQ:PME) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Pingtan Marine Enterprise (NASDAQ:PMEGet Rating) in a research report issued to clients and investors on Monday. The firm set a “sell” rating on the stock.

Pingtan Marine Enterprise Stock Performance

NASDAQ:PME opened at $0.61 on Monday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.50 and a current ratio of 0.75. The company has a fifty day moving average of $0.84 and a two-hundred day moving average of $0.91. The stock has a market capitalization of $52.51 million, a PE ratio of -15.27 and a beta of -0.77. Pingtan Marine Enterprise has a fifty-two week low of $0.42 and a fifty-two week high of $1.12.

Hedge Funds Weigh In On Pingtan Marine Enterprise

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its position in 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 acquiring an additional 31,375 shares during the period. 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 buying an additional 15,387 shares in the last quarter. Finally, 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 buying an additional 84,121 shares in the last quarter. 0.43% of the stock is currently 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.

Further Reading

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