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Understanding the Risks of Investing in Genco Shipping & Trading Limited (GNK)

Genco Shipping & Trading Limited’s filing revealed that its Director REGAN ARTHUR L unloaded Company’s shares for reported $32004.0 on May 13 ’24. In the deal valued at $22.86 per share,1,400 shares were sold. As a result of this transaction, REGAN ARTHUR L now holds 104,414 shares worth roughly $2.4 million.

Then, Adamo Joseph sold 1,396 shares, generating $28,478 in total proceeds. Upon selling the shares at $20.40, the Chief Accounting Officer now owns 17,994 shares.

Before that, WOBENSMITH JOHN C sold 35,660 shares. Genco Shipping & Trading Limited shares valued at $706,015 were divested by the CEO, President, and Secretary at a price of $19.80 per share. As a result of the transaction, WOBENSMITH JOHN C now holds 466,684 shares, worth roughly $10.71 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 jump 0.48% to $22.95. Over the last five days, the stock has gained 5.03%. Genco Shipping & Trading Limited shares have risen nearly 38.34% since the year began. Nevertheless, the stocks have risen 60.94% over the past one year. While a 52-week high of $23.43 was reached on 05/09/24, a 52-week low of $12.39 was recorded on 01/11/24. SMA at 50 days reached $20.88, while 200 days put it at $16.62. A total of 0.83 million shares were traded, compared to the trading of 0.83 million shares in the previous session.

Levels Of Support And Resistance For GNK Stock

The 24-hour chart illustrates a support level at 22.74, which if violated will result in even more drops to 22.54. On the upside, there is a resistance level at 23.14. A further resistance level may holdings at 23.33. The Relative Strength Index (RSI) on the 14-day chart is 72.74, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.81, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 20.17%. Stochastics %K at 77.71% indicates the stock is a holding.

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