Genco Shipping & Trading Limited Sees Significant Drop in Short Interest (GNKOQ)
Genco Shipping & Trading Limited (OTC:GNKOQ) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 9,345,352 shares, a drop of 41.3% from the March 31st total of 15,932,850 shares, AmericanBankingNews.com reports. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 5,443,721 shares, the days-to-cover ratio is currently 1.7 days.
A number of analysts have recently weighed in on GNKOQ shares. Analysts at Maxim Group downgraded shares of Genco Shipping & Trading Limited from a “hold” rating to a “sell” rating in a research note on Friday, April 4th. They now have a $0.25 price target on the stock. Analysts at Deutsche Bank reiterated a “sell” rating on shares of Genco Shipping & Trading Limited in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Genco Shipping & Trading Limited presently has a consensus rating of “Hold” and a consensus target price of $2.01.
Genco Shipping & Trading Limited (OTC:GNKOQ) opened at 2.06 on Friday. Genco Shipping & Trading Limited has a 1-year low of $1.40 and a 1-year high of $2.14. The stock’s 50-day moving average is $1.78 and its 200-day moving average is $1.78. The company’s market cap is $89.8 million.
Genco Shipping & Trading Limited (OTC:GNKOQ) last released its earnings data on Monday, April 7th. The company reported ($0.44) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.43) by $0.01. Analysts expect that Genco Shipping & Trading Limited will post $-1.96 EPS for the current fiscal year.
Genco Shipping & Trading Limited (OTC:GNKOQ) transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels.
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