Boston, MA 03/21/2014 (wallstreetpr) – Genco Shipping & Trading Limited (NYSE:GNK) continues to be the subject of unusual trading volumes in the market, with its stock surging as a result. Its stock has already surged by highs of 18% in today’s intraday trading session with the rise expected to continue until the close of business. Thursday trading session saw traders acquiring 43,260 put options on the company’s stock which represented an increase of 1,123%, compared to typical average trading volumes of 3,537 put options.
Analysts at Deutsche have recently weighed into Genco Shipping & Trading Limited (NYSE:GNK) shipping consequently reiterating a “sell” rating on its stock. Analysts at Zacks on the other hand upgraded Genco shipping stock from “neutral” rating to an “outperform” with a share price target of $2.80. Separately analysts at Nordea Equity research firm upgraded Genco Shipping &Trading Limited (NYSE:GNK)’s stock from a “strong sell” to a buy rating as the company continues to show substantial improvement in the market.
Genco Shipping &Trading Limited (NYSE:GNK) is currently rated as a “sell” by one research equity firm, three rate it as a “hold” and three others have maintained a “Buy” rating. The company average rating in the market stands at a “Hold” with a consensus price target of $2.45
TheStreet rating team currently have a “Sell” rating on Genco Shipping & Trading Limited (NYSE:GNK) with a strong rating score of D. Weakness in the company stock can be seen in such areas as high debt management risk that should be a concern to many investors, the company is also grappling with a disappointing return on equity.
Highlights of TheStreet rating
Genco Shipping & Trading Limited (NYSE:GNK)’s debt to equity ratio currently comes in at 1.63 higher than that of the industry, suggesting a lot has to be done to control the its debt levels. Its quick ratio on the other hand comes in at 0.09 demonstrating its inability to meet short term cash needs.
The company’s return on equity ratio has also dropped compared with that of the same quarter last year; this is essentially a sign of weakness when compared to other industry players. Genco shipping share price has also underperformed compared to where it was last year, going down by 46.55% and lower than that of the S&P 500 index.
Genco Shipping & Trading Limited (NYSE:GNK)’s net income growth on the other hand has grown compared to that of the same quarter last year consequently exceeding that of the industry average.