Genco Shipping & Trading Limited (NYSE:GNK) Short Interest Up 14.7% in January

Genco Shipping & Trading Limited (NYSE:GNK) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 655,400 shares, an increase of 14.7% from the January 15th total of 571,200 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average trading volume of 261,300 shares, the short-interest ratio is presently 2.5 days.

Several analysts have recently commented on GNK shares. ValuEngine downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Noble Financial reissued a “buy” rating and set a $18.00 target price on shares of Genco Shipping & Trading in a report on Sunday, February 2nd. Fearnley Fonds downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and set a target price for the company. in a research report on Monday, January 27th. Finally, Zacks Investment Research lowered shares of Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $13.58.

A number of hedge funds have recently made changes to their positions in the stock. Ancora Advisors LLC lifted its stake in Genco Shipping & Trading by 182.8% in the fourth quarter. Ancora Advisors LLC now owns 46,218 shares of the shipping company’s stock worth $491,000 after acquiring an additional 29,876 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Genco Shipping & Trading by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 54,920 shares of the shipping company’s stock worth $583,000 after acquiring an additional 2,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Genco Shipping & Trading during the 4th quarter worth approximately $403,000. Renaissance Technologies LLC increased its position in shares of Genco Shipping & Trading by 51.4% in the 4th quarter. Renaissance Technologies LLC now owns 243,330 shares of the shipping company’s stock valued at $2,584,000 after purchasing an additional 82,600 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $213,000. Institutional investors own 84.12% of the company’s stock.

Genco Shipping & Trading stock traded down $0.01 during midday trading on Friday, hitting $7.80. 169,767 shares of the company were exchanged, compared to its average volume of 222,922. The firm has a market capitalization of $358.78 million, a PE ratio of -8.39 and a beta of 1.14. Genco Shipping & Trading has a fifty-two week low of $7.04 and a fifty-two week high of $11.82. The business has a fifty day simple moving average of $9.21 and a two-hundred day simple moving average of $9.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.83 and a current ratio of 2.02.

About Genco Shipping & Trading

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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