In a report issued on February 26, Joakim Hannisdahl from Cleaves Securities maintained a Buy rating on Genco Shipping (GNK), with a price target of $16.00. The company’s shares closed last Tuesday at $10.71, close to its 52-week high of $11.15.
According to TipRanks.com, Hannisdahl is a 4-star analyst with an average return of 12.7% and a 59.8% success rate. Hannisdahl covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Eagle Bulk Shipping.
Currently, the analyst consensus on Genco Shipping is a Strong Buy with an average price target of $14.75, a 43.8% upside from current levels. In a report issued on February 25, Jefferies also maintained a Buy rating on the stock with a $13.00 price target.
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The company has a one-year high of $11.15 and a one-year low of $4.27. Currently, Genco Shipping has an average volume of 745.5K.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GNK in relation to earlier this year.
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Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products and other drybulk cargoes. It operates through the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels segment. The company was founded on September 27, 2004 and is headquartered in New York, NY.