Pingtan Marine Enterprise (NASDAQ:PME) Coverage Initiated at StockNews.com

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

Pingtan Marine Enterprise stock opened at $1.03 on Wednesday. The stock’s 50 day simple moving average is $0.91 and its two-hundred day simple moving average is $0.74. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.76 and a current ratio of 0.99. The stock has a market cap of $88.52 million, a price-to-earnings ratio of -25.74 and a beta of -1.11. Pingtan Marine Enterprise has a fifty-two week low of $0.42 and a fifty-two week high of $1.12.

Pingtan Marine Enterprise (NASDAQ:PME – Get Rating) last issued its quarterly earnings results on Tuesday, May 17th. The company reported ($0.12) EPS for the quarter. Pingtan Marine Enterprise had a negative return on equity of 23.39% and a negative net margin of 1.51%. The company had revenue of $62.81 million during the quarter.

A hedge fund recently raised its stake in Pingtan Marine Enterprise stock. Virtu Financial LLC raised its stake in shares of Pingtan Marine Enterprise Ltd. (NASDAQ:PME – Get Rating) by 18.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 96,964 shares of the company’s stock after buying an additional 15,387 shares during the period. Virtu Financial LLC owned about 0.11% of Pingtan Marine Enterprise worth $62,000 as of its most recent SEC filing. 0.22% of the stock is owned by institutional investors and hedge funds.

Pingtan Marine Enterprise Company Profile (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 squid, ribbon fish, croaker fish, and cuttle fish. As of December 31, 2020, it owned 51 squid jigging vessels, 26 trawlers, 25 seine vessels, 13 drifters, 4 longline fishing vessels, and 3 transport vessels, as well as had operating license rights to 20 drifters.

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