StockNews.com Upgrades Global Ship Lease (NYSE:GSL) to Strong-Buy

Global Ship Lease (NYSE:GSL) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

A number of other equities research analysts also recently weighed in on the company. Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a report on Thursday, November 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday, November 11th.

Global Ship Lease Stock Down 1.4 %

NYSE:GSL traded down $0.31 during mid-day trading on Tuesday, reaching $21.97. The stock had a trading volume of 404,797 shares, compared to its average volume of 321,861. The stock’s 50 day simple moving average is $21.92 and its two-hundred day simple moving average is $23.43. Global Ship Lease has a 1-year low of $18.75 and a 1-year high of $30.32. The company has a market capitalization of $809.63 million, a price-to-earnings ratio of 2.43 and a beta of 1.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

Institutional Trading of Global Ship Lease

A number of institutional investors and hedge funds have recently made changes to their positions in GSL. CIBC Private Wealth Group LLC boosted its position in Global Ship Lease by 6,856.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock valued at $36,000 after purchasing an additional 1,577 shares during the period. SBI Securities Co. Ltd. bought a new stake in Global Ship Lease in the fourth quarter valued at $37,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Global Ship Lease during the fourth quarter valued at $46,000. R Squared Ltd bought a new position in shares of Global Ship Lease during the fourth quarter worth about $50,000. Finally, WealthCollab LLC increased its holdings in shares of Global Ship Lease by 64.1% in the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock worth $57,000 after acquiring an additional 1,021 shares during the period. 50.08% of the stock is currently owned by institutional investors and hedge funds.

About Global Ship Lease

Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.