Long Position on GNK @ $18.79 on 2/25/2022 (Fundamentals)

This stock was featured earlier this month with success.

Genco Shipping & Trading Limited (GNK) engages in the ocean transportation of dry bulk cargoes worldwide. Stockwinners

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.

The company reported its quarterly earnings yesterday. It reported 4th Quarter December 2021 earnings of $1.99 per share on revenue of $183.3 million. The consensus earnings estimate was $1.89 per share on revenue of $142.2 million. Shares sold off yesterday along with the rest of the market due to events in Europe. Shares however rebounded from their 200-day moving average and now reside at the lower boundary of the trading channel. Higher share prices are expected.

 

Entry Point: $18.79

Stop Loss: $17.00

Trading Range: $9.78 - $22.00

Target Price: $20.80

Updates

3/2/2022 10:33:06 AM

GNK closed at $20.89

Position closed on 3/2/2022 at price of $20.89 with a 11.18% gain in 5 days.

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