GulfMark Offshore Inc. (NYSE:GLF) dropped 4% during mid-day trading on Monday . The stock traded as low as $2.62 and last traded at $2.65, with a volume of 92,653 shares traded. The stock had previously closed at $2.76.

GLF has been the subject of several recent analyst reports. Zacks Investment Research cut shares of GulfMark Offshore from a “hold” rating to a “sell” rating in a research report on Friday, July 29th. Morgan Stanley reaffirmed a “sell” rating on shares of GulfMark Offshore in a research report on Tuesday, April 26th.

The company’s market capitalization is $70.85 million. The firm’s 50 day moving average price is $3.08 and its 200 day moving average price is $4.28.

GulfMark Offshore (NYSE:GLF) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.57) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.57). During the same period in the prior year, the business earned $0.27 EPS. The company had revenue of $30.50 million for the quarter, compared to analysts’ expectations of $31.91 million. The business’s revenue for the quarter was down 59.1% on a year-over-year basis. Equities analysts predict that GulfMark Offshore Inc. will post ($2.48) EPS for the current year.

A hedge fund recently raised its stake in GulfMark Offshore stock. Morgan Stanley raised its stake in GulfMark Offshore Inc. (NYSE:GLF) by 960.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 245,699 shares of the company’s stock after buying an additional 222,527 shares during the period. Morgan Stanley owned approximately 0.95% of GulfMark Offshore worth $1,147,000 at the end of the most recent reporting period.

GulfMark Offshore, Inc provides offshore marine support and transportation services. The Company offers these services to companies engaged in the offshore exploration and production of oil and natural gas. The Company operates in three segments: the North Sea (N. Sea), Southeast Asia (SEA) and the Americas.

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