Gener8 Maritime Inc (GNRT) Stock Price Down 3%
Shares of Gener8 Maritime Inc (NASDAQ:GNRT) were down 3% during trading on Monday . The stock traded as low as $5.17 and last traded at $5.17, with a volume of 239,363 shares traded. The stock had previously closed at $5.33.
Several analysts have recently commented on GNRT shares. 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 research note on Friday, August 26th. Citigroup Inc. reduced 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 note on Thursday, July 28th. Jefferies Group reiterated a “buy” rating on shares of Gener8 Maritime in a research note on Monday, September 12th. Finally, Zacks Investment Research upgraded shares of Gener8 Maritime from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research note on Wednesday, July 6th.
The company’s 50 day moving average is $5.35 and its 200 day moving average is $6.35. The company has a market capitalization of $428.29 million and a PE ratio of 2.42.
Gener8 Maritime (NASDAQ:GNRT) last released its earnings results on Wednesday, July 27th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.01. The business had revenue of $105.96 million for the quarter, compared to analysts’ expectations of $109.89 million. During the same period last year, the firm posted $0.68 EPS. Gener8 Maritime’s revenue was down 9.0% compared to the same quarter last year. On average, equities analysts forecast that Gener8 Maritime Inc will post $1.85 EPS for the current fiscal year.
In other Gener8 Maritime news, VP Leonard J. Vrondissis sold 14,312 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $5.30, for a total transaction of $75,853.60. Following the completion of the sale, the vice president now owns 9,583 shares in the company, valued at $50,789.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
A number of hedge funds have recently added to or reduced their stakes in the stock. Boston Partners raised its stake in Gener8 Maritime by 78.8% in the second quarter. Boston Partners now owns 1,282,908 shares of the company’s stock valued at $8,211,000 after buying an additional 565,513 shares during the last quarter. BlackRock Fund Advisors raised its stake in Gener8 Maritime by 131.9% in the second quarter. BlackRock Fund Advisors now owns 933,332 shares of the company’s stock valued at $5,973,000 after buying an additional 530,872 shares during the last quarter. UBS Oconnor LLC raised its stake in Gener8 Maritime by 16.3% in the second quarter. UBS Oconnor LLC now owns 926,211 shares of the company’s stock valued at $5,928,000 after buying an additional 130,039 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Gener8 Maritime by 61.8% in the second quarter. Point72 Asset Management L.P. now owns 885,100 shares of the company’s stock valued at $5,665,000 after buying an additional 337,900 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Gener8 Maritime by 37.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 879,557 shares of the company’s stock valued at $5,629,000 after buying an additional 241,741 shares during the last quarter.
About Gener8 Maritime
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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