Short Interest in Global Ship Lease Inc (NYSE:GSL) Declines By 54.3%

Global Ship Lease Inc (NYSE:GSL) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 5,900 shares, a decline of 54.3% from the May 15th total of 12,900 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 19,700 shares, the days-to-cover ratio is currently 0.3 days.

Several analysts recently commented on GSL shares. ValuEngine raised Zuora from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Zacks Investment Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price target on the stock in a research note on Monday, June 3rd. Finally, Clarkson Capital started coverage on Global Ship Lease in a research note on Tuesday, April 9th. They issued a “buy” rating and a $9.00 price target on the stock.

Global Ship Lease stock traded up $0.03 on Friday, reaching $8.11. The company’s stock had a trading volume of 8,513 shares, compared to its average volume of 22,759. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.03 and a current ratio of 1.08. The stock has a market capitalization of $80.33 million, a P/E ratio of 4.61, a price-to-earnings-growth ratio of 0.86 and a beta of 0.93. The company’s fifty day moving average is $7.48. Global Ship Lease has a twelve month low of $4.00 and a twelve month high of $11.20.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Tuesday, May 7th. The shipping company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The company had revenue of $64.51 million for the quarter. Global Ship Lease had a positive return on equity of 7.52% and a negative net margin of 28.19%.

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

About Global Ship Lease

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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