Diana Shipping (DSX) Trading 8.9% Higher

Shares of Diana Shipping Inc (NYSE:DSX) traded up 8.9% on Friday . The stock traded as high as $3.46 and last traded at $3.42. 655,232 shares traded hands during trading, an increase of 68% from the average session volume of 391,183 shares. The stock had previously closed at $3.14.

Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Diana Shipping from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. ValuEngine upgraded shares of Diana Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $4.75.

The stock has a market capitalization of $333.25 million, a price-to-earnings ratio of -4.33 and a beta of 1.32.

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Diana Shipping by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 265,921 shares of the shipping company’s stock worth $1,095,000 after buying an additional 33,661 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Diana Shipping in the 2nd quarter valued at $213,000. DNB Asset Management AS increased its holdings in shares of Diana Shipping by 37.4% in the 3rd quarter. DNB Asset Management AS now owns 183,521 shares of the shipping company’s stock valued at $756,000 after acquiring an additional 50,000 shares during the period. Royce & Associates LP increased its holdings in shares of Diana Shipping by 5.6% in the 3rd quarter. Royce & Associates LP now owns 1,505,733 shares of the shipping company’s stock valued at $6,204,000 after acquiring an additional 80,000 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Diana Shipping by 22.5% in the 3rd quarter. Morgan Stanley now owns 550,310 shares of the shipping company’s stock valued at $2,267,000 after acquiring an additional 101,193 shares during the period. Institutional investors and hedge funds own 38.49% of the company’s stock.

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About Diana Shipping (NYSE:DSX)

Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including iron ore, coal, and grains, as well as steel products, cement, and fertilizers through its ownership of dry bulk vessels worldwide. As of December 31, 2017, it operated a fleet of 50 dry bulk carriers, including 22 Panamax, 5 Kamsarmax, 5 Post-Panamax, 14 Capesize, and 4 Newcastlemax vessels.

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