Genco Shipping & Trading Limited (NYSE:GNK) Gains By 24.19%


Boston, MA – (NYSEPOST) – 03/24/2014 – Genco Shipping & Trading Limited (NYSE:GNK) shares were a target of very unusually large options-trading on Thursday. The stock traders bought 43,260 put-options on the company stock. This represents a rise of around approximately 1,123% in comparison to the typical- volume of 3,537 put-options. Recently, numerous analysts have commented on the company stock. Deutsche Bank analysts have reiterated their “sell” rating on Genco Shipping & Trading Limited (NYSE:GNK) shares in the research note on 19 February. Separately, Zacks analysts have upgraded Genco Shipping & Trading Limited (NYSE:GNK) shares from a “neutral” to an “outperform” rating in the research note on 29 January.

They currently have a price target of $2.80 on the stock. Finally, Nordea Equity Research analysts upgraded Genco Shipping & Trading Limited (NYSE:GNK) shares from a “strong sell” to a “buy” rating in the research note on 23 January. One investment-analyst has rated the Genco Shipping & Trading Limited (NYSE:GNK) stock with a “sell” rating, 3 have assigned a “hold” rating and 3 have set a “buy” rating to the company stock. Currently, the company has a “hold” average rating and the price target is $2.45.

Genco Shipping & Trading Limited (NYSE:GNK) transports iron-ore, coal & grain, steel products & various other drybulk-cargoes along global shipping routes via the ownership & operation of drybulk-carrier vessels. As of 31 December 2012, Genco Shipping & Trading Limited (NYSE:GNK)’s fleet was made up of 53 drybulk carriers, which included 9 capesize, 8 panamax, 17-supramax, 6 handy-max & 13 handy-size drybulk carriers, that have an aggregate carrying- capacity of around 3,810,000 dead-weight tonnages. The average-age of the Genco Shipping & Trading Limited (NYSE:GNK)’s fleet was around 7.8 years as of 31 December s2012. In addition, 5 of Genco Shipping & Trading Limited (NYSE:GNK)’s vessels operate within the Lauritzen Pool. It has 2 segments: GS&T & the Baltic Trading Limited.

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