Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 (GNK) Cut to “Sell” at ValuEngine

Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 (NYSE:GNK) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, August 8th.

GNK has been the topic of a number of other research reports. Zacks Investment Research cut Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 from a “buy” rating to a “sell” rating in a report on Tuesday, July 18th. Jefferies Group LLC lifted their price target on Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 from $16.00 to $19.00 and gave the company a “buy” rating in a report on Monday, April 24th. BidaskClub cut Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Seaport Global Securities raised Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday, May 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 has an average rating of “Hold” and a consensus target price of $15.20.

Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 (GNK) traded up 1.72% during mid-day trading on Tuesday, reaching $12.39. The company’s stock had a trading volume of 50,106 shares. Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 has a 12 month low of $3.62 and a 12 month high of $14.99. The firm’s market capitalization is $426.53 million. The stock’s 50-day moving average is $10.51 and its 200-day moving average is $10.67.

Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 (NYSE:GNK) last issued its earnings results on Monday, August 7th. The shipping company reported ($0.36) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.03. Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 had a negative return on equity of 8.98% and a negative net margin of 49.36%. The company had revenue of $45.37 million during the quarter, compared to the consensus estimate of $43.91 million. On average, equities analysts anticipate that Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 will post ($1.43) EPS for the current year.

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A number of large investors have recently made changes to their positions in the company. Citigroup Inc. boosted its stake in shares of Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 by 0.4% in the second quarter. Citigroup Inc. now owns 13,652 shares of the shipping company’s stock valued at $129,000 after buying an additional 51 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 by 9.6% in the second quarter. Cubist Systematic Strategies LLC now owns 16,692 shares of the shipping company’s stock valued at $158,000 after buying an additional 1,457 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 by 38.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 34,935 shares of the shipping company’s stock valued at $437,000 after buying an additional 9,753 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 during the first quarter valued at approximately $134,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 during the first quarter valued at approximately $136,000. 56.56% of the stock is currently owned by hedge funds and other institutional investors.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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