Global Ship Lease Inc (NYSE:GSL) Short Interest Down 52.5% in June

Global Ship Lease Inc (NYSE:GSL) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 2,800 shares, a decrease of 52.5% from the May 30th total of 5,900 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 18,800 shares, the short-interest ratio is presently 0.1 days.

Shares of NYSE:GSL traded down $0.06 during midday trading on Friday, reaching $7.88. 49,945 shares of the company were exchanged, compared to its average volume of 21,419. The company has a current ratio of 1.08, a quick ratio of 1.03 and a debt-to-equity ratio of 2.44. The company’s fifty day moving average is $7.30. Global Ship Lease has a one year low of $4.00 and a one year high of $11.20. The firm has a market capitalization of $78.33 million, a PE ratio of 4.48, a PEG ratio of 0.85 and a beta of 0.93.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Tuesday, May 7th. The shipping company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.06. Global Ship Lease had a negative net margin of 28.19% and a positive return on equity of 7.52%. The firm had revenue of $64.51 million during the quarter. As a group, sell-side analysts forecast that Global Ship Lease will post 1.87 earnings per share for the current fiscal year.

GSL has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective for the company in a research note on Monday, June 3rd. Clarkson Capital initiated coverage on shares of Global Ship Lease in a research note on Tuesday, April 9th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, ValuEngine raised shares of Zuora from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th.

An institutional investor recently bought a new position in Global Ship Lease stock. Clear Harbor Asset Management LLC bought a new position in shares of Global Ship Lease Inc (NYSE:GSL) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,389 shares of the shipping company’s stock, valued at approximately $101,000. Clear Harbor Asset Management LLC owned about 0.17% of Global Ship Lease as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 4.34% of the company’s stock.

Global Ship Lease Company Profile

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of December 31, 2018, it owned 38 vessels with a total capacity of 200,615 twenty-foot equivalent units. The company is based in London, the United Kingdom.

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