GRIN Stock Summary and Trading Ideas (Grindrod Shipping Hldgs | NASDAQ:GRIN)

Grindrod Shipping Holdings Ltd owns charters in and operates a fleet of drybulk carriers and one tanker. The drybulk carrier's business is further divided into handysize, and supramax. It generates its revenue from Vessels which comprise charter hire of ships and freight revenue.

Grindrod Shipping Hldgs trades on the NASDAQ stock market under the symbol GRIN.

As of May 10, 2024, GRIN stock price declined to $13.79 with 5,703 million shares trading.

GRIN has a beta of 0.09, meaning it tends to be less sensitive to market movements. GRIN has a correlation of 0.00 to the broad based SPY ETF.

GRIN has a market cap of $271.46 million. This is considered a Small Cap stock.

Last quarter Grindrod Shipping Hldgs reported $89 million in Revenue and -$.14 earnings per share. This beat revenue expectation by $49 million and exceeded earnings estimates by $.03.

In the last 3 years, GRIN stock traded as high as $28.98 and as low as $6.80.

GRIN has outperformed the market in the last year with a return of +37.0%, while the SPY ETF gained +27.8%. In the last 3 month period, GRIN beat the market returning +45.8%, while SPY returned +4.2%. However, in the most recent 2 weeks GRIN has underperformed the stock market by returning +1.8%, while SPY returned +2.5%.

GRIN support price is $13.58 and resistance is $14.10 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GRIN stock will trade within this expected range on the day.