Genco Shipping & Trading Limited [NYSE: GNK] price surged by 1.17 percent to reach at $0.18. The company report on November 9, 2022 that Genco Shipping & Trading Limited Announces Third Quarter Financial Results.
Declares Dividend of $0.78 per share for Q3 2022 Represents a 56% Increase from Q2 2022 and the 13th Consecutive Quarterly Dividend.
A sum of 528499 shares traded at recent session while its average daily volume was at 1.06M shares. Genco Shipping & Trading Limited shares reached a high of $15.665 and dropped to a low of $15.23 until finishing in the latest session at $15.55.
The one-year GNK stock forecast points to a potential upside of 36.58. The average equity rating for GNK stock is currently 1.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Genco Shipping & Trading Limited [GNK]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GNK shares is $24.52 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GNK stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Genco Shipping & Trading Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2022. While these analysts kept the previous recommendation, Alliance Global Partners raised their target price to Buy. The new note on the price target was released on August 03, 2022, representing the official price target for Genco Shipping & Trading Limited stock. Previously, the target price had yet another raise to $25, while Jefferies analysts kept a Buy rating on GNK stock. On April 27, 2022, analysts increased their price target for GNK shares from 26 to 27.
The Average True Range (ATR) for Genco Shipping & Trading Limited is set at 0.59, with the Price to Sales ratio for GNK stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 0.68, with the Price to Cash per share for the same quarter was set at 1.57. Price to Free Cash Flow for GNK in the course of the last twelve months was 4.13 with Quick ratio for the last quarter at 2.10.
GNK Stock Performance Analysis:
Genco Shipping & Trading Limited [GNK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.22. With this latest performance, GNK shares gained by 6.80% in over the last four-week period, additionally sinking by -21.90% over the last 6 months – not to mention a rise of 1.83% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GNK stock in for the last two-week period is set at 58.73, with the RSI for the last a single of trading hit 61.79, and the three-weeks RSI is set at 56.59 for Genco Shipping & Trading Limited [GNK]. The present Moving Average for the last 50 days of trading for this stock 14.56, while it was recorded at 15.13 for the last single week of trading, and 17.95 for the last 200 days.
Insight into Genco Shipping & Trading Limited Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Genco Shipping & Trading Limited [GNK] shares currently have an operating margin of +35.63 and a Gross Margin at +41.35. Genco Shipping & Trading Limited’s Net Margin is presently recorded at +33.27.
Return on Equity for this stock inclined to 21.91, with Return on Assets sitting at 14.94.
Genco Shipping & Trading Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.60.
Genco Shipping & Trading Limited [GNK] Insider Position Details
There are presently around $420 million, or 65.00% of GNK stock, in the hands of institutional investors. The top three institutional holders of GNK stocks are: BLACKROCK INC. with ownership of 2,879,631, which is approximately -4.001% of the company’s market cap and around 0.20% of the total institutional ownership; CENTERBRIDGE PARTNERS, L.P., holding 2,694,583 shares of the stock with an approximate value of $41.9 million in GNK stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $41.32 million in GNK stock with ownership of nearly 16.257% of the company’s market capitalization.
Positions in Genco Shipping & Trading Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 97 institutional holders increased their position in Genco Shipping & Trading Limited [NYSE:GNK] by around 3,741,380 shares. Additionally, 84 investors decreased positions by around 7,644,843 shares, while 21 investors held positions by with 15,601,661 shares. The mentioned changes placed institutional holdings at 26,987,884 shares, according to the latest SEC report filing. GNK stock had 33 new institutional investments in for a total of 1,005,166 shares, while 37 institutional investors sold positions of 1,328,277 shares during the same period.