Gener8 Maritime Inc (GNRT) Stock Price Down 3.8%
Gener8 Maritime Inc (NASDAQ:GNRT) dropped 3.8% during mid-day trading on Friday . The stock traded as low as $5.35 and last traded at $5.36, with a volume of 98,941 shares changing hands. The stock had previously closed at $5.57.
GNRT has been the subject of several analyst reports. Zacks Investment Research lowered shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Jefferies Group reaffirmed a “buy” rating and issued a $13.00 price objective (down previously from $17.00) on shares of Gener8 Maritime in a research note on Wednesday, July 27th. Finally, Citigroup Inc. reduced their price objective on shares of Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, July 28th.
The stock has a market cap of $447.30 million and a PE ratio of 2.52. The company has a 50-day moving average of $5.53 and a 200 day moving average of $6.43.
Gener8 Maritime (NASDAQ:GNRT) last issued its earnings results on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $105.96 million for the quarter, compared to analysts’ expectations of $109.89 million. The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. Analysts expect that Gener8 Maritime Inc will post $1.90 earnings per share for the current fiscal year.
In other Gener8 Maritime news, VP Leonard J. Vrondissis sold 14,312 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $5.30, for a total value of $75,853.60. Following the completion of the sale, the vice president now owns 9,583 shares of the company’s stock, valued at $50,789.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Gener8 Maritime, Inc, formerly General Maritime Corporation, is a provider of international seaborne crude oil transportation services. The Company operates through the segment, which includes the transportation of international seaborne crude oil and petroleum products with its fleet of vessels. The Company owns a fleet of over 45 tankers, including 31 vessels on the water consisting of 14 Very Large Crude Carriers (VLCCs), approximately 11 Suezmax vessels, over four Aframax vessels and approximately two Panamax vessels with an aggregate carrying capacity of approximately 6.6 million deadweight tons.