Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 (NYSE:GNK) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

A number of other research firms have also weighed in on GNK. Jefferies Group LLC reissued a “buy” rating and set a $20.00 price objective (down previously from $22.00) on shares of Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 in a research note on Saturday, July 22nd. BidaskClub raised Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research raised Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 presently has an average rating of “Hold” and a consensus target price of $15.20.

Shares of Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 (GNK) traded down $0.33 during midday trading on Thursday, reaching $10.15. 155,729 shares of the company’s stock were exchanged, compared to its average volume of 105,835. Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 has a twelve month low of $6.37 and a twelve month high of $14.99. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52.

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Large investors have recently added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in shares of Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 by 0.4% during the second quarter. Citigroup Inc. now owns 13,652 shares of the shipping company’s stock valued at $129,000 after purchasing an additional 51 shares during the period. California State Teachers Retirement System purchased a new stake in Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 in the second quarter worth $129,000. Bank of New York Mellon Corp purchased a new stake in Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 in the first quarter worth $136,000. Teachers Advisors LLC purchased a new stake in Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 in the second quarter worth $141,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 by 9.6% in the second quarter. Cubist Systematic Strategies LLC now owns 16,692 shares of the shipping company’s stock worth $158,000 after acquiring an additional 1,457 shares during the period. 58.27% of the stock is owned by hedge funds and other institutional investors.

About Genco Shipping & Trading Limited Warrants Expiring 12/31/2021

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 ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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