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Tale of the Tape

Zacks Equity Research

Investors are betting against Genco Shipping & Trading Limited (GNK), Should You?


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Many investors appear to be quite bearish Genco Shipping & Trading Limited (GNK - Free Report) especially if you look at the percentage of the float that is sold short for this stock. Currently, 22.3% of the float is sold short, suggesting an extreme level of bearishness for GNK.

However, it is worth noting that earnings estimates have actually been moving higher for the company, despite the pessimism. Thanks to these rising estimates, we actually have a Zacks Rank #2 (Buy) on GNK, so we clearly don’t believe in the negativity surrounding this firm, and are instead looking for shares of GNK to move higher in the weeks ahead.

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