Genco Shipping & Trading Limited (NYSE:GNK) Short Interest Down 13.4% in January

Genco Shipping & Trading Limited (NYSE:GNK) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 1,244,904 shares, a decline of 13.4% from the January 15th total of 1,437,895 shares. Based on an average trading volume of 329,407 shares, the short-interest ratio is currently 3.8 days. Currently, 2.9% of the shares of the stock are short sold. Currently, 2.9% of the shares of the stock are short sold. Based on an average trading volume of 329,407 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Genco Shipping & Trading in a research note on Monday, December 29th. Wall Street Zen cut shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $21.00.

Genco Shipping & Trading Stock Down 1.3%

NYSE GNK traded down $0.29 during midday trading on Tuesday, hitting $21.93. 21,154 shares of the company traded hands, compared to its average volume of 340,061. Genco Shipping & Trading has a 52 week low of $11.20 and a 52 week high of $22.38. The company’s 50-day simple moving average is $19.55 and its 200-day simple moving average is $18.10. The company has a market cap of $948.04 million, a PE ratio of -128.69, a price-to-earnings-growth ratio of 5.99 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.36 and a quick ratio of 1.98.

Institutional Trading of Genco Shipping & Trading

Hedge funds have recently modified their holdings of the company. CSM Advisors LLC purchased a new position in shares of Genco Shipping & Trading in the 2nd quarter worth approximately $3,876,000. Citigroup Inc. boosted its stake in Genco Shipping & Trading by 727.6% in the third quarter. Citigroup Inc. now owns 215,412 shares of the shipping company’s stock valued at $3,834,000 after acquiring an additional 189,383 shares in the last quarter. First Trust Advisors LP boosted its stake in Genco Shipping & Trading by 705.9% in the third quarter. First Trust Advisors LP now owns 133,631 shares of the shipping company’s stock valued at $2,379,000 after acquiring an additional 117,049 shares in the last quarter. Credit Agricole S A purchased a new position in Genco Shipping & Trading in the third quarter worth $1,801,000. Finally, AQR Capital Management LLC increased its position in shares of Genco Shipping & Trading by 49.3% during the first quarter. AQR Capital Management LLC now owns 296,188 shares of the shipping company’s stock worth $3,957,000 after purchasing an additional 97,766 shares in the last quarter. 58.62% of the stock is owned by hedge funds and other institutional investors.

About Genco Shipping & Trading

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.