Genco Shipping & Trading Ltd. stock trades under the ticker GNK & has shown recent bullishness that traders & investors should take a closer look at.
GNK stock closed at $17.01/share on 2/7/2022.
Genco Shipping & Trading Ltd. GNK Stock’s Technicals Broken Down
GNK Stock Price: $17.01
10 Day Moving Average: $15.73
50 Day Moving Average: $15.49
200 Day Moving Average: $16.87
RSI: 61.3
MACD: 0.205
Yesterday, GNK stock broke out above its 200 Day Moving Average, just days after its 10 day broke out bullishly above its 50 day MA.
Their RSI is still relatively neutral, although climbing closer to overbought & their trading volume for 2022 so far has been above average compared with the year prior.
I will be keeping an eye at where they are compared to the $17-level, with the $17.99/share level being the next major test of resistance.
Genco Shipping & Trading Ltd. GNK Stock As A Long-Term Investment
Investors will like GNK stock’s valuation metrics, with 27.53 for their P/E (ttm) & 0.79 for their P/B (mrq).
GNK stock’s Quarterly Revenue Growth Y-o-Y was 77.4%.
Genco Shipping & Trading Ltd.’s balance sheet will require closer examination though, with $80.17M in Total Cash (mrq) & Total Debt (mrq) of $305.28M.
GNK stock offers a 1.96% dividend yield, that appears very safe as their payout ratio is 33.3%.
73.8% of GNK stock’s outstanding share float is held by institutional investors.
Genco Shipping & Trading Ltd. GNK Stock As A Short-Term Trade Using Options
Traders can use options to take advantage of GNK stock’s momentum, while fending off broader market volatility.
I am looking at the contracts with the 2/18 expiration date.
The $15 & $17.50 call options look appealing, and have sufficient open interest.
The $20 & $22.50 put options also look appealing, although less liquid, implying that markets see more strength than weakness for GNK stock in the near-term.
Tying It All Together
Overall, GNK stock has many appealing characteristics that traders & investors will like.
Investors will like their valuation metrics, as well as their dividend yield, but may want to take a closer look at their balance sheet structure.
Traders will like their current momentum, as well as the liquidity around their options.
GNK stock is worth taking a closer look at, regardless of your trading style.
*** I DO NOT OWN SHARES OF GNK STOCK ***