StockNews.com initiated coverage on shares of Pingtan Marine Enterprise (NASDAQ:PME – Get Rating) in a report released on Thursday morning. The firm issued a sell rating on the stock.

Pingtan Marine Enterprise Trading Down 6.9 %

PME opened at $0.27 on Thursday. Pingtan Marine Enterprise has a twelve month low of $0.00 and a twelve month high of $1.12. The firm's fifty day moving average is $0.29 and its two-hundred day moving average is $0.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG raised its stake in shares of Pingtan Marine Enterprise by 299.6% in the 3rd quarter. UBS Group AG now owns 41,847 shares of the company's stock valued at $35,000 after purchasing an additional 31,375 shares during the period. Virtu Financial LLC boosted its holdings in shares of Pingtan Marine Enterprise by 18.9% in the 1st quarter. Virtu Financial LLC now owns 96,964 shares of the company's stock valued at $62,000 after buying an additional 15,387 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Pingtan Marine Enterprise by 222.0% in the 2nd quarter. Renaissance Technologies LLC now owns 122,021 shares of the company's stock valued at $109,000 after acquiring an additional 84,121 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

About Pingtan Marine Enterprise

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Pingtan Marine Enterprise Ltd., through its subsidiary, engages in ocean fishing and sale of frozen marine catches. Its products include Japanese threadfin bream, red fish, ribbon fish, sea catfish, seabream, shrimp, silver pomfret, silver seaperch, slender shad, and spanish mackarel. The company was founded on February 27, 1998 and is headquartered in Fuzhou, China.

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