Diana Shipping Turns Lower Despite Better Than Expected Q3 Results

(RTTNews) - After gapping open notably higher, shares of Diana Shipping Inc. (DSX) have come under pressure over the course of the trading session on Monday. Diana Shipping is currently down by 3.1 percent after surging up by as much as 7.6 percent.

The downturn by Diana shipping comes even though the shipping company reported third quarter results that exceeded analyst estimates on both the top and bottom lines.

Diana Shipping reported third quarter earnings of $0.13 per share on time charter revenues on $61.5 million, while analysts had expected the company to earn $0.04 per share on revenues of $56.4 million.