Why Diana Shipping Stock Kept Rising on Monday
Shares of dry bulk shipping company Diana Shipping (NYSE: DSX) stock are likely to book a second straight (trading) day of gains Monday, with shares up 8% as we head into the final hour of the trading day.
Diana stock closed out last week strong, as you may recall, rising 7.9% after reporting better-than-expected fiscal first quarter 2021 sales of $41.1 million and better-than-expected "earnings," too. (Actually, Diana lost money for the quarter -- but only $0.03 per share where Wall Street had forecast a $0.06 per-share loss.)
Sales declined 6% as compared to last year's Q1, but only, management explained, because the company sold four of its ships and consequently had fewer vessels to utilize. However, Diana made better use of the ships that remained as fleet utilization climbed to 98.6%.
Source Fool.com
