Shares of Gener8 Maritime Inc (NYSE:GNRT) saw strong trading volume on Thursday . 2,905,088 shares traded hands during mid-day trading, an increase of 254% from the previous session’s volume of 821,188 shares.The stock last traded at $6.17 and had previously closed at $6.13.

Several research analysts recently commented on the stock. BidaskClub raised shares of Gener8 Maritime from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Gener8 Maritime from a “hold” rating to a “strong sell” rating in a report on Monday, October 23rd. Citigroup downgraded shares of Gener8 Maritime from a “buy” rating to a “neutral” rating in a report on Tuesday. Jefferies Group reaffirmed a “buy” rating on shares of Gener8 Maritime in a report on Thursday, October 19th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Gener8 Maritime in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Gener8 Maritime currently has a consensus rating of “Hold” and a consensus price target of $8.38.

The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market cap of $513.76, a price-to-earnings ratio of 32.47 and a beta of 1.40.

Gener8 Maritime (NYSE:GNRT) last announced its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.06). Gener8 Maritime had a negative net margin of 34.10% and a positive return on equity of 1.16%. The firm had revenue of $47.89 million during the quarter, compared to the consensus estimate of $47.06 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was down 30.7% on a year-over-year basis. equities research analysts predict that Gener8 Maritime Inc will post -0.22 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in GNRT. Voya Investment Management LLC boosted its holdings in Gener8 Maritime by 29.3% in the 2nd quarter. Voya Investment Management LLC now owns 23,024 shares of the shipping company’s stock valued at $131,000 after purchasing an additional 5,219 shares during the period. Smith Moore & CO. bought a new position in Gener8 Maritime in the 3rd quarter valued at $158,000. Wells Fargo & Company MN boosted its holdings in Gener8 Maritime by 65.3% in the 3rd quarter. Wells Fargo & Company MN now owns 44,684 shares of the shipping company’s stock valued at $201,000 after purchasing an additional 17,645 shares during the period. Alliancebernstein L.P. boosted its holdings in Gener8 Maritime by 50.4% in the 2nd quarter. Alliancebernstein L.P. now owns 37,000 shares of the shipping company’s stock valued at $211,000 after purchasing an additional 12,400 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Gener8 Maritime by 17.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,842 shares of the shipping company’s stock valued at $232,000 after purchasing an additional 6,022 shares during the period. 75.76% of the stock is owned by hedge funds and other institutional investors.

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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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