Genco Shipping & Trading Limited (NYSE:GNK) Short Interest Up 9.0% in January

Genco Shipping & Trading Limited (NYSE:GNK) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 984,400 shares, an increase of 9.0% from the January 15th total of 903,100 shares. Based on an average daily volume of 457,300 shares, the short-interest ratio is presently 2.2 days. Approximately 2.4% of the shares of the stock are short sold.

Genco Shipping & Trading Trading Down 0.0 %

GNK opened at $14.62 on Tuesday. The firm has a market cap of $624.98 million, a P/E ratio of 9.31, a P/E/G ratio of 5.57 and a beta of 0.97. Genco Shipping & Trading has a 12 month low of $13.51 and a 12 month high of $23.43. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $14.34 and a 200 day moving average of $16.19.

Institutional Trading of Genco Shipping & Trading

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Genco Shipping & Trading by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,838,759 shares of the shipping company’s stock worth $39,572,000 after purchasing an additional 10,193 shares during the last quarter. American Century Companies Inc. lifted its stake in Genco Shipping & Trading by 8.9% in the fourth quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company’s stock worth $18,981,000 after purchasing an additional 111,564 shares during the last quarter. State Street Corp lifted its stake in Genco Shipping & Trading by 1.0% in the third quarter. State Street Corp now owns 1,190,467 shares of the shipping company’s stock worth $23,214,000 after purchasing an additional 12,001 shares during the last quarter. Townsend & Associates Inc lifted its stake in Genco Shipping & Trading by 2.2% in the fourth quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company’s stock worth $15,318,000 after purchasing an additional 23,101 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Genco Shipping & Trading by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 990,357 shares of the shipping company’s stock worth $13,809,000 after purchasing an additional 10,260 shares during the last quarter. Institutional investors own 58.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GNK. StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Jefferies Financial Group restated a “buy” rating and set a $25.00 price objective on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Finally, Stifel Nicolaus lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and dropped their price target for the stock from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.