Gener8 Maritime Inc (GNRT) Trading 2.8% Higher
Shares of Gener8 Maritime Inc (NASDAQ:GNRT) traded up 2.8% on Tuesday . The company 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.
GNRT has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating and issued a $13.00 price objective (down previously from $17.00) on shares of Gener8 Maritime in a report on Wednesday, July 27th. Citigroup Inc. dropped their price objective on shares of Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $5.00 price objective (down previously from $9.00) on shares of Gener8 Maritime in a report on Friday, August 26th.
The firm has a 50 day moving average price of $5.41 and a 200-day moving average price of $6.39. The stock has a market cap of $414.23 million and a price-to-earnings ratio of 2.34.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.01. The firm had revenue of $105.96 million for the quarter, compared to analyst estimates of $109.89 million. The company’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS. Equities analysts expect that Gener8 Maritime Inc will post $1.90 earnings per share for the current year.
In other news, VP Leonard J. Vrondissis sold 14,312 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 9,583 shares in the company, valued at $50,789.90. The sale was disclosed in a filing with the SEC, which is available at 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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