As of Friday close, Genco Shipping & Trading Limited’s (NYSE:GNK) stock was down -$0.14, moving down -0.99 percent to $14.07. The average number of shares traded per day over the past five days has been 715,680 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.21 fall in that time frame. In the last twenty days, the average volume was 711,410, while in the previous 50 days, it was 686,488.
Since last month, GNK stock rose 2.63%. Shares of the company fell to $13.27 on 07/21/23, the lowest level in the past month. A 52-week high of $19.84 was reached on 02/24/23 after having rallying from a 52-week low of $11.92. Since the beginning of this year, GNK’s stock price has dropped by -8.40% or -$1.29, and marked a new high 17 times. However, the stock has declined by -29.09% since its 52-week high.
GNK stock investors should be aware that Genco Shipping & Trading Limited (GNK) stock had its last reported insider trading activity 103 days ago on May 08. REGAN ARTHUR L, the Director of the company, disposed of 9,423 shares for $14.03 on May 08. It resulted in a $132,205 divestment by the insider. WOBENSMITH JOHN C sold 14,164 shares at an average price of $19.40 on Feb 27. The insider now owns 431,024 shares following the transaction. On Feb 27, Chief Financial Officer Zafolias Apostolos sold 2,266 shares at $19.39 apiece. The transaction was valued at $43,943.
Valuation Metrics
Right now, Genco Shipping & Trading Limited (GNK) has a P/E ratio of about 7.22. The stock’s beta is 1.09. Besides these, the trailing price-to-sales (P/S) ratio of 1.33, the price-to-book (PB) ratio of 0.63, and the price-to-cash flow ratio of 5.04 may also be considered.
The latest dividend of $0.15 per share was paid out, remained unchanged from last year’s $0.15. On Tuesday May 2 2023, a $0.35 dividend decrease was announced.
Financial Health
In the three months ended June 29, Genco Shipping & Trading Limited’s quick ratio stood at 3.00, while its current ratio was 3.80, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.16, and the total debt-to-equity ratio was 0.16. On the profitability front, the trailing twelve-month gross margin is 42.30% percent. In the year ended June 29, operating margins totaled 20.90%. Based on annual data, GNK earned $256.45 million in gross profit and brought in $536.93 million in revenue.
In Genco Shipping & Trading Limited’s quarter-end financial report for June 29, it reported total debt of $148.26 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. GNK’s revenue fell -52.12% to $94.39 million during the quarter, while net income inched up to $90.56 million. While analysts expected Genco Shipping & Trading Limited to report $0.24 quarterly earnings, the actual figure was $0.27 per share, beating the consensus estimate by 12.50%. During the quarter, the company generated $31.46 million in EBITDA. The liabilities of Genco Shipping & Trading Limited were 180.45 million at the end of its most recent quarter ended June 29, and its total debt was $153.46 million. The value of shareholders’ equity is $42.53 million.
Technical Picture
This quick technical analysis looks at Genco Shipping & Trading Limited’s (GNK) price momentum. With a historical volatility rate of 20.71%, the RSI 9-day stood at 49.66% on 18 August.
With respect to its five-day moving average, the current Genco Shipping & Trading Limited price is down by -1.47% percent or -$0.21. At present, GNK shares trade +4.92% above its 20-day simple moving average and -8.75% percent below its 100-day simple moving average. However, the stock is currently trading approximately +1.15% above its SMA50 and +5.00% above its SMA200.
Stochastic coefficient K was 37.73% and Stochastic coefficient D was 34.57%, while ATR was 0.41. Given the Stochastic reading of 35.42% for the 14-day period, the RSI (14) reading has been calculated as 50.70%. As of today, the MACD Oscillator reading stands at -0.03, while the 14-day reading stands at -0.05.
Analyst Ratings
Stifel launched its rating on Genco Shipping & Trading Limited (NYSE: GNK) to a Buy in a note to investors on September 30, 2022. Genco Shipping & Trading Limited (GNK) has been rated Buy by analysts. According to 0 brokerage firms, GNK is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Genco Shipping & Trading Limited stock as buy, with 10 recommending it as overweight.
With a median target price of $23.00, the current consensus forecast for the stock is $17.00 – $28.00. Based on these forecasts, analysts predict Genco Shipping & Trading Limited (GNK) will achieve an average price target of $22.80.
