Global Ship Lease Inc (NYSE:GSL) Lowers The 52 Week Low

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Global Ship Lease Inc (NYSE:GSL)

December 7th, 2018
Amidst falling markets Global Ship Lease Inc went up $0.01 Friday, a 1.23% increase, closing at $0.75. Despite ending the day higher, Global Ship Lease Inc hit a new 52 week low of $0.68. Global Ship Lease Inc bounced 10.29% between high and low. While it is positive news the stock ended higher, the trading volumes were only 16% of normal which could be an indication of investor uncertainty. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be -0.06.

GSL outperformed the rest of the Industrials sector which went down 2.62% today.

Market Sectors

The market sectors were mixed Friday with a majority of the sectors trending down. Utilities saw the biggest increase of the day (0.40%), while Information Technology saw the biggest drop (3.53%). Healthcare has seen the biggest year-to-date gain at 9.38%. The biggest loss this year has been the Materials sector dropping 15%.

Utilities saw the biggest turnaround from its 5-day performance of 2.89%, as it went up 0.40%. Real Estate saw a turn around from its 5-day performance of 1.28% trading down 1.44%.

Sector Breakdown

  • Utilities went up with a 0.40% change.
  • Energy went down with a -0.64% change.
  • Consumer Staples went down with a -1.29% change.
  • Real Estate went down with a -1.44% change.
  • Financials went down with a -1.84% change.
  • Communication Services went down with a -2.09% change.
  • Healthcare went down with a -2.51% change.
  • Materials went down with a -2.54% change.
  • Industrials went down with a -2.62% change.
  • Consumer Discretionary went down with a -3.08% change.
  • Information Technology went down with a -3.53% change.

Global Ship Lease Inc Info

Global Ship Lease, Inc. owns and charters containerships of various sizes under long-term fixed-rate charters to container shipping companies. As of December 31, 2017, it owned 18 vessels with a total capacity of 82,312 twenty-foot equivalent units. The company is based in London, the United Kingdom.

All amounts in USD unless otherwise indicated

(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Global Ship Lease Inc’s score is -0.06) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.

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