Genco Shipping & Trading (NYSE:GNK)‘s stock had its “buy” rating restated by equities researchers at Noble Financial in a report released on Thursday.
GNK has been the subject of a number of other research reports. ValuEngine cut shares of Genco Shipping & Trading from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 14th. MED reiterated a “reduce” rating on shares of Genco Shipping & Trading in a research report on Tuesday. B. Riley initiated coverage on shares of Genco Shipping & Trading in a research report on Thursday, October 4th. They set a “buy” rating and a $22.00 target price for the company. Finally, Zacks Investment Research cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $18.81.
Shares of GNK stock traded up $0.46 during mid-day trading on Thursday, reaching $12.91. The company’s stock had a trading volume of 343,627 shares, compared to its average volume of 192,771. Genco Shipping & Trading has a 1-year low of $9.75 and a 1-year high of $20.07. The stock has a market cap of $581.66 million, a price-to-earnings ratio of -10.01 and a beta of -0.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.85 and a current ratio of 4.14.
Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, August 8th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Genco Shipping & Trading had a negative net margin of 29.58% and a negative return on equity of 0.59%. The company had revenue of $86.16 million during the quarter, compared to analysts’ expectations of $59.97 million. On average, sell-side analysts predict that Genco Shipping & Trading will post 0.78 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its position in Genco Shipping & Trading by 391.0% in the 2nd quarter. Millennium Management LLC now owns 826,870 shares of the shipping company’s stock valued at $12,816,000 after acquiring an additional 658,468 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Genco Shipping & Trading by 507.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 24,307 shares of the shipping company’s stock valued at $376,000 after acquiring an additional 20,307 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in Genco Shipping & Trading in the 2nd quarter valued at about $805,000. Laurion Capital Management LP acquired a new stake in Genco Shipping & Trading in the 2nd quarter valued at about $3,526,000. Finally, Renaissance Technologies LLC increased its position in Genco Shipping & Trading by 119.1% in the 2nd quarter. Renaissance Technologies LLC now owns 612,530 shares of the shipping company’s stock valued at $9,494,000 after acquiring an additional 333,000 shares in the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
Genco Shipping & Trading Company Profile
Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, such as commodities traders; producers; and government-owned entities.
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