Genco Shipping & Trading Rises On Unusually High Volume (GNK)
Genco Shipping & Trading (NYSE:GNK) is trading at unusually high volume Friday with two million shares changing hands. It is currently at four times its average daily volume and trading up 17 cents (+2.6%).
NEW YORK ( TheStreet) -- Genco Shipping & Trading (NYSE: GNK) is trading at unusually high volume Friday with two million shares changing hands. It is currently at four times its average daily volume and trading up 17 cents (+2.6%) at $6.77 as of 2:45 p.m. ET. Genco Shipping & Trading has a market cap of $267.9 million and is part of the services sector and transportation industry. Shares are down 2.4% year to date as of the close of trading on Thursday. Genco Shipping & Trading Limited engages in the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels worldwide. It transports iron ore, coal, grain, steel products, and other drybulk cargoes. The company has a P/E ratio of 8.5, above the average transportation industry P/E ratio of 4.7 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Genco Shipping & Trading as a hold. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Genco Shipping & Trading Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.