Genco Shipping & Trading Limited (NYSE:GNK) Short Interest Down 13.4% in January

Genco Shipping & Trading Limited (NYSE:GNK) was the recipient of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 1,244,904 shares, a decline of 13.4% from the January 15th total of 1,437,895 shares. Based on an average daily trading volume, of 329,407 shares, the days-to-cover ratio is currently 3.8 days. Currently, 2.9% of the company’s stock are sold short. Currently, 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 329,407 shares, the days-to-cover ratio is currently 3.8 days.

Analysts Set New Price Targets

A number of analysts recently commented on GNK shares. Wall Street Zen cut shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genco Shipping & Trading in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $21.00.

Institutional Investors Weigh In On Genco Shipping & Trading

Hedge funds have recently modified their holdings of the company. Strengthening Families & Communities LLC acquired a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at about $31,000. Atlantic Union Bankshares Corp purchased a new position in Genco Shipping & Trading during the third quarter worth approximately $30,000. Advisory Services Network LLC acquired a new stake in Genco Shipping & Trading in the third quarter valued at approximately $30,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at approximately $32,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Genco Shipping & Trading by 82.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,942 shares of the shipping company’s stock worth $25,000 after buying an additional 876 shares during the period. 58.62% of the stock is owned by hedge funds and other institutional investors.

Genco Shipping & Trading Stock Performance

Shares of NYSE GNK traded down $0.29 during midday trading on Tuesday, reaching $21.93. 21,154 shares of the stock were exchanged, compared to its average volume of 340,061. The company has a quick ratio of 1.98, a current ratio of 2.36 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $19.55 and a two-hundred day simple moving average of $18.10. Genco Shipping & Trading has a twelve month low of $11.20 and a twelve month high of $22.38. The firm has a market cap of $948.04 million, a price-to-earnings ratio of -128.69, a PEG ratio of 5.99 and a beta of 1.21.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.