Gener8 Maritime Inc (GNRT) Stock Rating Upgraded by BidaskClub
Gener8 Maritime Inc (NASDAQ:GNRT) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.
Other research analysts have also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Gener8 Maritime in a report on Monday, August 7th. TheStreet raised shares of Gener8 Maritime from a “d” rating to a “c-” rating in a report on Wednesday, August 9th. ValuEngine cut shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Zacks Investment Research cut shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $10.00.
Gener8 Maritime (NASDAQ:GNRT) opened at 4.86 on Friday. Gener8 Maritime has a one year low of $3.52 and a one year high of $5.69. The company’s market cap is $403.32 million. The company has a 50-day moving average of $4.68 and a 200 day moving average of $4.81.
Gener8 Maritime (NASDAQ:GNRT) last issued its earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.05). Gener8 Maritime had a negative return on equity of 23.25% and a negative net margin of 110.14%. The business had revenue of $74.95 million for the quarter, compared to analysts’ expectations of $76.55 million. During the same period last year, the business earned $0.51 EPS. The company’s revenue for the quarter was down 29.3% on a year-over-year basis. Analysts anticipate that Gener8 Maritime will post ($0.02) earnings per share for the current year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNRT. Marshall Wace North America L.P. purchased a new position in Gener8 Maritime in the second quarter valued at $110,000. Voya Investment Management LLC increased its holdings in Gener8 Maritime by 29.3% in the second quarter. Voya Investment Management LLC now owns 23,024 shares of the shipping company’s stock valued at $131,000 after buying an additional 5,219 shares in the last quarter. American International Group Inc. increased its holdings in Gener8 Maritime by 7.1% in the first quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock valued at $137,000 after buying an additional 1,598 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Gener8 Maritime by 4.7% in the first quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock valued at $139,000 after buying an additional 1,100 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Gener8 Maritime in the second quarter valued at $165,000.
Gener8 Maritime Company Profile
Gener8 Maritime, Inc is a provider of international seaborne crude oil transportation services. The Company operates through the transportation of international seaborne crude oil and petroleum products with its fleet of vessels segment. As of March 10, 2017, the Company owned a fleet of 40 tankers on the water, consisting of 24 Very Large Crude Carriers (VLCCs), 10 Suezmax vessels, four Aframax vessels and two Panamax vessels, with an aggregate carrying capacity of 9.4 million deadweight tons (DWT) and one eco VLCC newbuilding.
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