Genco Shipping & Trading Limited’s filing revealed that its Chief Accounting Officer Adamo Joseph unloaded Company’s shares for reported $28478.0 on Feb 29 ’24. In the deal valued at $20.40 per share,1,396 shares were sold. As a result of this transaction, Adamo Joseph now holds 17,994 shares worth roughly $0.37 million.
Then, WOBENSMITH JOHN C sold 35,660 shares, generating $706,015 in total proceeds. Upon selling the shares at $19.80, the CEO, President, and Secretary now owns 466,684 shares.
Before that, Christensen Jesper sold 12,404 shares. Genco Shipping & Trading Limited shares valued at $245,636 were divested by the Chief Commercial Officer at a price of $19.80 per share. As a result of the transaction, Christensen Jesper now holds 42,587 shares, worth roughly $0.87 million.
BTIG Research downgraded its Genco Shipping & Trading Limited [GNK] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Stifel’s analysts, who began to cover the stock in late September with a ‘”a Buy”‘ rating. Alliance Global Partners began covering GNK with “Buy” recommendation on August 03, 2022. Jefferies started covering the stock on July 21, 2022. It rated GNK as “a Buy”.
Price Performance Review of GNK
On Monday, Genco Shipping & Trading Limited [NYSE:GNK] saw its stock fall -1.93% to $20.32. Over the last five days, the stock has lost -0.29%. Genco Shipping & Trading Limited shares have risen nearly 22.48% since the year began. Nevertheless, the stocks have risen 34.39% over the past one year. While a 52-week high of $21.24 was reached on 03/13/24, a 52-week low of $12.39 was recorded on 01/11/24. SMA at 50 days reached $19.37, while 200 days put it at $15.66. A total of 0.5 million shares were traded, compared to the trading of 0.82 million shares in the previous session.
Levels Of Support And Resistance For GNK Stock
The 24-hour chart illustrates a support level at 20.16, which if violated will result in even more drops to 20.00. On the upside, there is a resistance level at 20.63. A further resistance level may holdings at 20.94. The Relative Strength Index (RSI) on the 14-day chart is 52.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 44.14%. Stochastics %K at 68.47% indicates the stock is a holding.
How much short interest is there in Genco Shipping & Trading Limited?
A steep rise in short interest was recorded in Genco Shipping & Trading Limited stocks on Mar 15, 2024, growing by 30000.0 shares to a total of 1.16 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.13 million shares. There was a rise of 2.59%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.74% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.4.
