Short Interest in Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) Grows By 7.2%

Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 44,400 shares, an increase of 7.2% from the August 15th total of 41,400 shares. Based on an average daily volume of 31,400 shares, the short-interest ratio is presently 1.4 days. Currently, 1.4% of the company’s stock are short sold.

Grindrod Shipping Stock Down 3.0 %

Shares of NASDAQ GRIN traded down $0.26 during mid-day trading on Tuesday, reaching $8.28. 6,727 shares of the company traded hands, compared to its average volume of 63,260. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.47 and a current ratio of 1.64. The company’s fifty day moving average is $8.35 and its two-hundred day moving average is $9.58. Grindrod Shipping has a fifty-two week low of $6.80 and a fifty-two week high of $26.29.

Grindrod Shipping (NASDAQ:GRIN) last released its earnings results on Tuesday, September 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.46. The firm had revenue of $109.07 million for the quarter. Grindrod Shipping had a return on equity of 12.58% and a net margin of 5.03%.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners raised Grindrod Shipping from a “neutral” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Monday, July 17th.

Institutional Trading of Grindrod Shipping

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRIN. Goldman Sachs Group Inc. grew its holdings in Grindrod Shipping by 936.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 405,162 shares of the company’s stock valued at $10,307,000 after buying an additional 366,052 shares during the last quarter. New York Life Investment Management LLC bought a new stake in shares of Grindrod Shipping in the 4th quarter worth approximately $3,416,000. Renaissance Technologies LLC lifted its position in shares of Grindrod Shipping by 84.1% in the 1st quarter. Renaissance Technologies LLC now owns 250,595 shares of the company’s stock worth $6,375,000 after acquiring an additional 114,453 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Grindrod Shipping by 894.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 116,190 shares of the company’s stock worth $1,992,000 after acquiring an additional 104,508 shares during the period. Finally, Barclays PLC lifted its position in shares of Grindrod Shipping by 160.0% in the 4th quarter. Barclays PLC now owns 95,400 shares of the company’s stock worth $1,785,000 after acquiring an additional 58,708 shares during the period.

About Grindrod Shipping

Grindrod Shipping Holdings Ltd., an international shipping company, engages in owning, chartering, and operating a fleet of dry bulk carriers worldwide. It operates through three segments: Handysize, Supramax/Ultramax, and Others. The company operates a fleet of 15 handysize drybulk carriers and 16 supramax/ultramax drybulk carriers transporting various bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers.