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

Zacks Equity Research

Many investors appear to be quite bearish on Genco Shipping & Trading Limited (GNK), especially if you look at the percentage of the float that is sold short for this stock. Currently, 43.1% 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 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.

GENCO SHIPPING & TRADING LTD (GNK): Free Stock Analysis Report

Zacks Investment Research