Global Ship Lease (GSL) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Global Ship Lease (NYSE:GSL) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Shares of NYSE:GSL traded up $0.01 during mid-day trading on Wednesday, hitting $1.33. 17,152 shares of the company traded hands, compared to its average volume of 103,245. The stock has a market cap of $73.12, a price-to-earnings ratio of 2.89 and a beta of 0.96. The company has a quick ratio of 1.34, a current ratio of 1.48 and a debt-to-equity ratio of 1.40. Global Ship Lease has a 12-month low of $0.97 and a 12-month high of $1.94.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Monday, April 30th. The shipping company reported $0.09 earnings per share for the quarter. Global Ship Lease had a positive return on equity of 8.03% and a negative net margin of 49.94%. The business had revenue of $36.10 million for the quarter.

A hedge fund recently raised its stake in Global Ship Lease stock. Renaissance Technologies LLC boosted its holdings in Global Ship Lease Inc (NYSE:GSL) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,338,500 shares of the shipping company’s stock after purchasing an additional 98,300 shares during the period. Renaissance Technologies LLC owned about 2.43% of Global Ship Lease worth $1,553,000 as of its most recent SEC filing. 6.20% of the stock is owned by institutional investors and hedge funds.

About Global Ship Lease

Global Ship Lease, Inc owns and charters containerships of various sizes under long-term, fixed-rate charters to container shipping companies. As of March 1, 2018, the company owned 18 vessels with a total capacity of 82,312 twenty-foot equivalent units. Global Ship Lease, Inc is based in London, the United Kingdom.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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