The stock of Genco Shipping & Trading Limited (NYSE: GNK) has increased by 0.94 when compared to last closing price of 22.44. Despite this, the company has experienced a 4.09% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-05-08 that Genco Shipping & Trading (GNK) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.06 per share a year ago.
Is It Worth Investing in Genco Shipping & Trading Limited (NYSE: GNK) Right Now?
The 36-month beta value for GNK is at 1.00. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 3 rating it as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for GNK is 37.69M, and currently, shorts hold a 3.22% of that float. The average trading volume for GNK on May 09, 2024 was 687.34K shares.
GNK’s Market Performance
The stock of Genco Shipping & Trading Limited (GNK) has seen a 4.09% increase in the past week, with a 11.14% rise in the past month, and a 26.32% gain in the past quarter. The volatility ratio for the week is 2.20%, and the volatility levels for the past 30 days are at 2.04% for GNK. The simple moving average for the past 20 days is 6.99% for GNK’s stock, with a 37.77% 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 9.58% 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 able to rebound, for now settling with 0.49% of gains for the given period.
Volatility was left at 2.04%, however, over the last 30 days, the volatility rate increased by 2.20%, as shares surge +9.90% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.03% upper at present.
During the last 5 trading sessions, GNK rose by +4.09%, which changed the moving average for the period of 200-days by +69.03% in comparison to the 20-day moving average, which settled at $21.27. In addition, Genco Shipping & Trading Limited saw 36.53% 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 2.91. 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
In conclusion, Genco Shipping & Trading Limited (GNK) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
