 | Your browser does not display parts of our website correctly. We use the latest technology available to provide you with a high quality experience; please upgrade your browser to its latest version to view the contents properly: |
Genco Shipping & Trading Limited (GNK) engages in the ocean transportation of dry bulk cargoes worldwide. 
The company, through the ownership and operation of dry bulk carrier vessels, transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.
As of February 24, 2021, the company fleet consisted of 17 Capesize, 9 Ultramax, and 15 Supramax with an aggregate capacity of approximately 4,421,000 deadweight tons.
On August 4th, Genco Shipping & Trading reported 2nd Quarter June 2021 earnings of $0.75 per share on revenue of $121.0 million. The consensus earnings estimate was $0.72 per share on revenue of $102.3 million. Revenue grew 63.1% on a year-over-year basis.
Shares are heading higher in an upward trading channel. The lower boundary of the channel coincides with the stock's50-day moving average. Shares are presently at the lower boundary of the said channel. Higher share prices are exxpected.
Entry Point: $19.95
Trading Channel: $6.38 - $22.00
Stop Loss: $18.95
Target Price: $22.00
