Genco Shipping & Trading Limited (NYSE:GNK) rose 0.9% during mid-day trading on Tuesday . The stock traded as high as $8.63 and last traded at $8.62, approximately 39,342 shares were traded during trading. A decline of 82% from the average daily volume of 219,609 shares. The stock had previously closed at $8.54.

GNK has been the topic of several recent analyst reports. ValuEngine cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, Noble Financial set a $18.00 price target on Genco Shipping & Trading and gave the stock a “buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.90.

The firm has a market cap of $355.75 million, a price-to-earnings ratio of 13.92 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.75 and a current ratio of 2.02. The business has a fifty day moving average of $9.45 and a two-hundred day moving average of $8.49.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, August 7th. The shipping company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.08). The firm had revenue of $41.75 million during the quarter, compared to analyst estimates of $39.92 million. Genco Shipping & Trading had a negative return on equity of 0.80% and a negative net margin of 4.79%. On average, equities research analysts forecast that Genco Shipping & Trading Limited will post -0.35 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC acquired a new stake in shares of Genco Shipping & Trading in the 2nd quarter worth approximately $28,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Genco Shipping & Trading during the 2nd quarter valued at $28,000. Tower Research Capital LLC TRC acquired a new stake in Genco Shipping & Trading during the 2nd quarter valued at $108,000. Alambic Investment Management L.P. acquired a new stake in Genco Shipping & Trading during the 1st quarter valued at $119,000. Finally, United Services Automobile Association grew its holdings in Genco Shipping & Trading by 14.4% during the 2nd quarter. United Services Automobile Association now owns 16,152 shares of the shipping company’s stock valued at $136,000 after buying an additional 2,028 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Genco Shipping & Trading Company Profile (NYSE:GNK)

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 ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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