Gener8 Maritime Inc (GNRT) Shares Up 2.8%
Gener8 Maritime Inc (NASDAQ:GNRT)’s share price shot up 2.8% during trading on Tuesday . The stock traded as high as $5.18 and last traded at $5.14, with a volume of 59,153 shares. The stock had previously closed at $5.00.
A number of equities analysts recently issued reports on the stock. Citigroup Inc. decreased their target price on shares of Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Jefferies Group reiterated a “buy” rating on shares of Gener8 Maritime in a research report on Monday. Zacks Investment Research lowered shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $5.00 target price (down previously from $9.00) on shares of Gener8 Maritime in a research report on Friday.
The firm’s 50 day moving average price is $5.45 and its 200 day moving average price is $6.40. The firm has a market capitalization of $420.85 million and a P/E ratio of 2.37.
Gener8 Maritime (NASDAQ:GNRT) last issued its earnings results on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by $0.01. The company earned $105.96 million during the quarter, compared to analysts’ expectations of $109.89 million. Gener8 Maritime’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. On average, analysts anticipate 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 Gener8 Maritime stock in a transaction on Monday, August 15th. The stock was 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 of the company’s stock, valued at $50,789.90. The sale was disclosed in a document filed with the SEC, which can be accessed 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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