Gener8 Maritime Inc (GNRT) Stock Price Up 3.7%
Gener8 Maritime Inc (NASDAQ:GNRT) shares rose 3.7% during mid-day trading on Tuesday . The stock traded as high as $5.63 and last traded at $5.60, with a volume of 121,991 shares. The stock had previously closed at $5.40.
GNRT has been the topic of several recent research reports. Zacks Investment Research lowered 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 objective (down previously from $17.00) on shares of Gener8 Maritime in a research note on Wednesday, July 27th.
The company has a 50 day moving average of $5.47 and a 200 day moving average of $6.41. The firm has a market cap of $460.53 million and a price-to-earnings ratio of 2.60.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by $0.01. During the same period in the prior year, the company posted $0.68 EPS. The business had revenue of $105.96 million for the quarter, compared to analyst estimates of $109.89 million. Gener8 Maritime’s quarterly revenue was down 9.0% on a year-over-year basis. On average, 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 business’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 transaction of $75,853.60. Following the completion of the transaction, the vice president now directly owns 9,583 shares in the company, valued at $50,789.90. The sale was disclosed in a document filed with the SEC, 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.
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