Gener8 Maritime Inc (GNRT) Shares Down 3.7%
Gener8 Maritime Inc (NASDAQ:GNRT) fell 3.7% on Thursday . The stock traded as low as $5.22 and last traded at $5.22, with a volume of 93,742 shares traded. The stock had previously closed at $5.42.
Several research firms have recently weighed in on GNRT. Zacks Investment Research lowered Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Jefferies Group restated a “buy” rating and issued a $13.00 target price (down previously from $17.00) on shares of Gener8 Maritime in a report on Wednesday, July 27th. Citigroup Inc. reduced their target price on Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $5.00 target price (down previously from $9.00) on shares of Gener8 Maritime in a report on Friday.
The stock’s 50 day moving average price is $5.47 and its 200-day moving average price is $6.39. The firm has a market capitalization of $415.06 million and a P/E ratio of 2.34.
Gener8 Maritime (NASDAQ:GNRT) last posted its earnings results on Wednesday, July 27th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $105.96 million for the quarter, compared to the consensus estimate of $109.89 million. The company’s revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. Equities research analysts expect that Gener8 Maritime Inc will post $1.90 EPS for the current fiscal year.
In other news, VP Leonard J. Vrondissis sold 14,312 shares of Gener8 Maritime 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 transaction, the vice president now owns 9,583 shares in the company, valued at $50,789.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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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