GulfMark Offshore Inc. (NYSE:GLF)’s share price fell 4.8% during mid-day trading on Monday . The company traded as low as $2.72 and last traded at $2.76, with a volume of 195,336 shares changing hands. The stock had previously closed at $2.90.

A number of brokerages have recently issued reports on GLF. Zacks Investment Research cut shares of GulfMark Offshore from a “hold” rating to a “sell” rating in a research note on Friday, July 29th. Morgan Stanley dropped their target price on shares of GulfMark Offshore from $5.50 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, July 28th.

The stock has a 50 day moving average price of $3.34 and a 200 day moving average price of $4.35. The stock’s market capitalization is $75.68 million.

GulfMark Offshore (NYSE:GLF) last issued its 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 quarter in the previous year, the firm posted $0.27 earnings per share. The firm had revenue of $30.50 million for the quarter, compared to analyst estimates of $31.91 million. GulfMark Offshore’s quarterly revenue was down 59.1% on a year-over-year basis. On average, equities analysts expect that GulfMark Offshore Inc. will post ($2.48) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in GulfMark Offshore stock. Morgan Stanley increased its position in GulfMark Offshore Inc. (NYSE:GLF) by 960.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 245,699 shares of the company’s stock after buying an additional 222,527 shares during the period. Morgan Stanley owned about 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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