Genco Shipping & Trading Limited (NYSE:GNK) is a stock to watch today. At current price of $9.95, the shares have already lost -0.45 points (-4.33% lower) from its previous close of $10.4. The stock sets an active trading volume day with a reported 114193 contracts so far this session. GNK shares had a relatively better volume day versus average trading capacity of 251.43 thousand shares, but with a 41.43 million float and a 0.68% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GNK stock indicates that the average analyst price target is $14.26 per share. This means the stock has a potential increase of 43.32% from where the GNK share price has been trading recently.There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $18.
During the recent trading session for Genco Shipping & Trading Limited (NYSE:GNK), the company witnessed their stock drop by $-0.36 over a week and tumble down $-0.66 from the price 20 days ago. When compared to their established 52-week high of $11.82, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 12/11/19. The recent low of $6.83 stood for a -13.19% since 01/30/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.06 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for GNK is set at $14, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for Genco Shipping & Trading Limited, the two-week RSI stands at 44.95. This figure suggests that GNK stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current GNK readings is similarly very revealing as it has a stochastic reading of 22.5% at this stage. This figure means that GNK share price today is being overbought.
Technical chart claims that Genco Shipping & Trading Limited (GNK) would settle between $10.6/share to $10.8/share level. However, if the stock price goes below the $10.28 mark, then the market for Genco Shipping & Trading Limited becomes much weaker. If that happens, the stock price might even plunge as low as $10.16 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Maxim Group, assumed coverage of GNK assigning Buy rating, according to their opinion released on January 03. B. Riley FBR, analysts launched coverage of Genco Shipping & Trading Limited (NYSE:GNK) stock with a Buy recommendation, according to their flash note issued to investors on October 04. Analysts at Evercore ISI, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to November 20.
GNK equity has an average rating of 3, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated Genco Shipping & Trading Limited (NYSE:GNK) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Genco Shipping & Trading Limited (GNK)’s current-quarter revenues are projected to climb by nearly -16.8% to hit $63.15 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -15.8% from $252670 to a noteworthy $212850. At the other end of the current quarter income statement, Genco Shipping & Trading Limited is expected to see its adjusted earnings surge by roughly -61.5% to hit $0.15 per share. For the fiscal year, GNK’s earnings are projected to climb by roughly -203.1% to hit $-0.66 per share.