Zacks Investment Research downgraded shares of Gener8 Maritime Inc (NASDAQ:GNRT) from a hold rating to a sell rating in a research report released on Wednesday.

According to Zacks, “Gener8 Maritime, Inc. offers marine transportation services. The Company is involved in the transportation of crude oil and petroleum products. Gener8 Maritime, Inc. is headquartered in New York. “

A number of other research firms also recently issued reports on GNRT. BidaskClub downgraded shares of Gener8 Maritime from a buy rating to a hold rating in a research report on Wednesday, July 12th. ValuEngine downgraded shares of Gener8 Maritime from a buy rating to a hold rating in a research report on Saturday, June 3rd. Finally, Jefferies Group LLC reiterated a buy rating and set a $10.00 target price on shares of Gener8 Maritime in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $7.50.

Shares of Gener8 Maritime (NASDAQ:GNRT) opened at 5.41 on Wednesday. Gener8 Maritime has a 12 month low of $3.52 and a 12 month high of $6.40. The company has a market cap of $448.81 million and a P/E ratio of 13.84. The stock’s 50 day moving average is $5.56 and its 200 day moving average is $5.25.

Gener8 Maritime (NASDAQ:GNRT) last released its earnings results on Tuesday, May 9th. The shipping company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. Gener8 Maritime had a net margin of 21.84% and a return on equity of 7.42%. The company had revenue of $121.06 million for the quarter, compared to the consensus estimate of $114.54 million. During the same quarter in the previous year, the company earned $0.78 EPS. Gener8 Maritime’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts anticipate that Gener8 Maritime will post $0.09 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNRT. American International Group Inc. increased its position 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 during the last quarter. Schroder Investment Management Group acquired a new position in Gener8 Maritime during the first quarter valued at $2,875,000. Parametric Portfolio Associates LLC increased its position in Gener8 Maritime by 455.8% in the first quarter. Parametric Portfolio Associates LLC now owns 76,413 shares of the shipping company’s stock valued at $433,000 after buying an additional 62,665 shares during the last quarter. Karp Capital Management Corp acquired a new position in Gener8 Maritime during the first quarter valued at $226,000. Finally, Bank of New York Mellon Corp increased its position in Gener8 Maritime by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 222,466 shares of the shipping company’s stock valued at $1,261,000 after buying an additional 2,254 shares during the last quarter.

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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