Gener8 Maritime Inc (GNRT) Shares Down 3.8%
Gener8 Maritime Inc (NASDAQ:GNRT)’s share price was down 3.8% during trading on Friday . The company traded as low as $5.35 and last traded at $5.36, with a volume of 98,941 shares. The stock had previously closed at $5.57.
GNRT has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Citigroup Inc. reduced their price target on Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $13.00 price target (down from $17.00) on shares of Gener8 Maritime in a research report on Wednesday, July 27th.
The stock has a 50-day moving average price of $5.50 and a 200 day moving average price of $6.42. The firm has a market cap of $447.30 million and a price-to-earnings ratio of 2.52.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.01. During the same period in the prior year, the company earned $0.68 EPS. The firm had revenue of $105.96 million for the quarter, compared to analyst estimates of $109.89 million. Gener8 Maritime’s revenue was down 9.0% on a year-over-year basis. On average, analysts anticipate that Gener8 Maritime Inc will post $1.90 EPS for the current year.
In related news, VP Leonard J. Vrondissis sold 14,312 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $5.30, for a total transaction of $75,853.60. Following the completion of the transaction, the vice president now owns 9,583 shares of the company’s stock, valued at approximately $50,789.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.
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