Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) Update on Short-Term Interest

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) saw strong growth in short-term interest in December. As of December 15, there was short interest totaling 54,300 shares, an increase of 114.6% from the total of 25,300 shares as of November 30. Currently 0.6% of the company’s shares are sold short. Based on an average daily volume of 221,900 shares, the short-term interest rate is currently 0.2 days.

TO SMILE open at $ 17.72 Wednesday. Grindrod Shipping has a 12 month low of $ 4.46 and a 12 month high of $ 19.49. The company has a leverage ratio of 0.81, a current ratio of 1.29, and a rapid ratio of 1.17. The company has a 50-day moving average of $ 14.72 and a two-hundred-day moving average of $ 13.91.

Grindrod Shipping (NASDAQ: GRIN) last released its quarterly results on Tuesday, November 16. The company reported earnings per share (EPS) of $ 2.28 for the quarter, beating analyst consensus estimates of $ 2.09 by $ 0.19. The company posted revenue of $ 135.14 million for the quarter, compared to analysts’ expectations of $ 117.33 million. As a group, sell-side analysts predict that Grindrod Shipping will post earnings per share of 5.58 for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 13. Shareholders of record on Friday, December 3 received a dividend of $ 0.72 per share. This represents an annualized dividend of $ 2.88 and a dividend yield of 16.25%. The ex-dividend date was Thursday, December 2.

Major investors have recently bought and sold shares in the company. Advisor Group Holdings Inc. purchased a new position in Grindrod Shipping shares during the third quarter valued at approximately $ 52,000. Jump Financial LLC purchased a new position in shares of Grindrod Shipping during the third quarter valued at approximately $ 158,000. Trexquant Investment LP purchased a new position in shares of Grindrod Shipping during the 3rd quarter valued at approximately $ 212,000. Royal Bank of Canada increased its holdings of Grindrod Shipping shares by 25,408.3% during the third quarter. Royal Bank of Canada now owns 15,305 shares of the company valued at $ 236,000 after purchasing an additional 15,245 shares last quarter. Finally, Tudor Investment Corp Et Al purchased a new position in Grindrod Shipping shares during the 3rd quarter for a value of approximately $ 337,000. 7.68% of the shares are held by hedge funds and other institutional investors.

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A number of analysts have recently commented on GRIN stocks. Zacks investment research reduced Grindrod Shipping’s stock from a “keep” note to a “sell” note in a research note on Wednesday. Noble Financial reissued a “buy” note and set a price target of $ 31.00 for Grindrod Shipping shares in a research report released on Friday, October 15. Finally, Jefferies Financial Group launched a cover on Grindrod Shipping shares in a research report on Thursday, October 28. They set a “buy” rating and a price target of $ 20.00 for the company.

About Grindrod’s Shipping

Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters and operates a fleet of dry bulk carriers and tankers around the world. It operates a fleet of 23 owned dry bulk carriers and 8 long-term chartered dry bulk carriers that transport a range of bulk and bulk commodities including ores, coal, grains, forestry products, steel products and fertilizers. .

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