Jefferies Thinks Genco Shipping’s Stock is Going to Recover

Jefferies analyst Douglas Mavrinac reiterated a Buy rating on Genco Shipping (OTCBB: GNK) yesterday. The company’s shares closed yesterday at $3.77, close to its 52-week low of $3.62.

According to TipRanks.com, Mavrinac is a 1-star analyst with an average return of -0.5% and a 55.2% success rate. Mavrinac covers the Services sector, focusing on stocks such as Navios Maritime Partners Lp, Ship Finance International, and Golden Ocean Group Limited.

Genco Shipping has an analyst consensus of Moderate Buy

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The company has a one year high of $60.00 and a one year low of $3.62. Currently, Genco Shipping has an average volume of 36.75k.

Genco Shipping & Trading Ltd. is an international ship owning company. It engages in transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels. It operates in two segments: GS&T and Baltic Trading segment. The GS&T segment seeks to deploy its vessels on time charters, spot market-related time charters or in vessel pools trading in the spot market. The Baltic Trading segment seeks to deploy its vessel charters in the spot market, which represents immediate chartering of a vessel, usually for single voyages, or employing vessels on spot market related time charters. The company was founded on September 27, 2004 and is headquartered in New York, NY.