Genco Shipping & Trading Limited (NYSE:GNK) Short Interest Update

Genco Shipping & Trading Limited (NYSE:GNK) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 984,400 shares, a growth of 9.0% from the January 15th total of 903,100 shares. Based on an average daily volume of 457,300 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GNK. StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Finally, Stifel Nicolaus lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Institutional Investors Weigh In On Genco Shipping & Trading

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC raised its position in Genco Shipping & Trading by 3.1% in the 4th quarter. LPL Financial LLC now owns 24,566 shares of the shipping company’s stock valued at $342,000 after buying an additional 736 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Genco Shipping & Trading by 1.8% during the 4th quarter. Wells Fargo & Company MN now owns 57,506 shares of the shipping company’s stock valued at $802,000 after purchasing an additional 1,040 shares during the last quarter. Legal & General Group Plc increased its position in shares of Genco Shipping & Trading by 3.9% during the 4th quarter. Legal & General Group Plc now owns 42,402 shares of the shipping company’s stock valued at $591,000 after purchasing an additional 1,607 shares during the last quarter. Rhumbline Advisers increased its position in shares of Genco Shipping & Trading by 2.7% during the 4th quarter. Rhumbline Advisers now owns 68,136 shares of the shipping company’s stock valued at $950,000 after purchasing an additional 1,800 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at $29,000. 58.62% of the stock is owned by hedge funds and other institutional investors.

Genco Shipping & Trading Stock Down 0.0 %

NYSE GNK traded down $0.00 on Friday, reaching $14.62. The company had a trading volume of 418,889 shares, compared to its average volume of 405,298. The stock has a market capitalization of $624.98 million, a P/E ratio of 9.31, a P/E/G ratio of 5.57 and a beta of 0.97. The company’s fifty day moving average is $14.35 and its 200 day moving average is $16.22. 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.

About Genco Shipping & Trading

Genco 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.