GNK has 36-month beta value of 1.13. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 3 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for GNK is 37.67M, and currently, short sellers hold a 2.38% ratio of that float. The average trading volume of GNK on April 11, 2024 was 747.08K shares.
GNK) stock’s latest price update
Genco Shipping & Trading Limited (NYSE: GNK) has experienced a rise in its stock price by 1.24 compared to its previous closing price of 20.61. However, the company has seen a gain of 1.53% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-10 that NEW YORK, April 10, 2024 (GLOBE NEWSWIRE) — Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company’s results for the first quarter of 2024 on Thursday, May 9, 2024 at 8:30 a.m. Eastern Time. The conference call will also be broadcast live over the Internet and include a slide presentation. The Company will issue financial results for the first quarter ended March 31, 2024 on Wednesday, May 8, 2024 after the close of market trading.
GNK’s Market Performance
GNK’s stock has risen by 1.53% in the past week, with a monthly drop of -1.49% and a quarterly rise of 30.24%. The volatility ratio for the week is 2.18% while the volatility levels for the last 30 days are 2.31% for Genco Shipping & Trading Limited The simple moving average for the past 20 days is 2.54% for GNK’s stock, with a 32.68% simple moving average for the past 200 days.
Analysts’ Opinion of GNK
Stifel, on the other hand, stated in their research note that they expect to see GNK reach a price target of $20. The rating they have provided for GNK stocks is “Buy” according to the report published on September 30th, 2022.
Alliance Global Partners gave a rating of “Buy” to GNK, setting the target price at $29 in the report published on August 03rd of the previous year.
GNK Trading at 7.09% from the 50-Day Moving Average
After a stumble in the market that brought GNK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -1.77% of loss for the given period.
Volatility was left at 2.31%, however, over the last 30 days, the volatility rate increased by 2.18%, as shares surge +0.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.51% upper at present.
During the last 5 trading sessions, GNK rose by +2.24%, which changed the moving average for the period of 200-days by +53.81% in comparison to the 20-day moving average, which settled at $20.36. In addition, Genco Shipping & Trading Limited saw 25.77% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GNK starting from Adamo Joseph, who sale 1,396 shares at the price of $20.40 back on Feb 29 ’24. After this action, Adamo Joseph now owns 17,994 shares of Genco Shipping & Trading Limited, valued at $28,478 using the latest closing price.
WOBENSMITH JOHN C, the CEO, President, and Secretary of Genco Shipping & Trading Limited, sale 35,660 shares at $19.80 during a trade that took place back on Feb 23 ’24, which means that WOBENSMITH JOHN C is holding 466,684 shares at $706,015 based on the most recent closing price.
Stock Fundamentals for GNK
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.18 for the gross margin
The net margin for Genco Shipping & Trading Limited stands at -0.03. The total capital return value is set at 0.01. Equity return is now at value -1.37, with -1.11 for asset returns.
Based on Genco Shipping & Trading Limited (GNK), the company’s capital structure generated 0.17 points at debt to capital in total, while cash flow to debt ratio is standing at 0.48. The debt to equity ratio resting at 0.21. The interest coverage ratio of the stock is 1.07.
Currently, EBITDA for the company is 102.56 million with net debt to EBITDA at 1.41. When we switch over and look at the enterprise to sales, we see a ratio of 2.71. The receivables turnover for the company is 19.97for trailing twelve months and the total asset turnover is 0.34. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.40.
Conclusion
To put it simply, Genco Shipping & Trading Limited (GNK) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
