In Hellenic Shipping News 04/02/2016
Genco Shipping & Trading Limited Ordinary Shares New (NYSE:GNK) traded down 1.98% during trading on Wednesday, reaching $0.99. The company had a trading volume of 38,944 shares. The stock has a 50 day moving average price of $1.24 and a 200 day moving average price of $3.48. Genco Shipping & Trading Limited Ordinary Shares New has a 52 week low of $0.90 and a 52 week high of $7.85. The firm has a market capitalization of $71.44 million and a P/E ratio of 0.13.
Zacks Investment Research cut shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Marketbeat.com reports.
According to Zacks, “Genco Shipping & Trading Ltd. is a ship owning company. It transport iron ore, coal, grain, steel products and other drybulk cargoes along shipping routes. The company owned fleet of dry cargo vessels which consists of Capesize, Panamax, Ultramax, Supramax, Handymax and Handysize vessels. Genco Shipping & Trading Ltd. is based in New York, United States. “
A number of other analysts have also weighed in on GNK. Jefferies Group lowered their target price on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) to $8.00 and set a buy rating for the company in a report on Friday, October 23rd. Morgan Stanley lowered Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from an equal weight rating to an underweight rating and lowered their target price for the stock from $7.00 to $1.20 in a report on Tuesday, December 15th.
Source: Market Beat
