Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) has received a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $24.20.
Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Stifel Nicolaus lowered Genco Shipping & Trading from a "buy" rating to a "hold" rating and cut their price target for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, November 7th.
Get Our Latest Analysis on GNK
Genco Shipping & Trading Trading Down 1.6 %
GNK traded down $0.23 during trading hours on Friday, reaching $14.33. 487,425 shares of the company's stock traded hands, compared to its average volume of 413,469. The firm has a market capitalization of $612.75 million, a PE ratio of 9.13, a PEG ratio of 5.57 and a beta of 0.97. Genco Shipping & Trading has a 52-week low of $13.51 and a 52-week high of $23.43. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $14.38 and a 200 day moving average price of $16.31.
Institutional Trading of Genco Shipping & Trading
Hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Genco Shipping & Trading in the 4th quarter worth $29,000. New Age Alpha Advisors LLC acquired a new stake in Genco Shipping & Trading in the fourth quarter worth about $56,000. Quarry LP grew its stake in shares of Genco Shipping & Trading by 535.8% during the third quarter. Quarry LP now owns 4,266 shares of the shipping company's stock worth $83,000 after acquiring an additional 3,595 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Genco Shipping & Trading by 830.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company's stock valued at $154,000 after acquiring an additional 9,847 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $162,000. 58.62% of the stock is owned by hedge funds and other institutional investors.
About Genco Shipping & Trading
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Get Free ReportGenco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.
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