BidaskClub upgraded shares of Gener8 Maritime Inc (NASDAQ:GNRT) from a strong sell rating to a sell rating in a report released on Friday.

Several other equities analysts have also weighed in on GNRT. Jefferies Group LLC restated a buy rating and set a $10.00 price objective on shares of Gener8 Maritime in a research report on Tuesday, May 30th. ValuEngine lowered shares of Gener8 Maritime from a buy rating to a hold rating in a research report on Saturday, June 3rd. Zacks Investment Research lowered shares of Gener8 Maritime from a hold rating to a sell rating in a research report on Wednesday, July 26th. Finally, TheStreet upgraded shares of Gener8 Maritime from a d rating to a c- rating in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $10.00.

Shares of Gener8 Maritime (NASDAQ:GNRT) opened at 4.69 on Friday. The firm has a 50-day moving average of $5.09 and a 200-day moving average of $5.24. Gener8 Maritime has a 12-month low of $3.52 and a 12-month high of $6.40. The firm’s market cap is $389.21 million.

Gener8 Maritime (NASDAQ:GNRT) last posted its quarterly earnings data on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. The firm had revenue of $74.95 million for the quarter, compared to the consensus estimate of $76.55 million. During the same period last year, the business posted $0.51 EPS. The company’s quarterly revenue was down 29.3% on a year-over-year basis. On average, equities analysts forecast that Gener8 Maritime will post ($0.02) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in GNRT. Marshall Wace North America L.P. purchased a new position in shares of Gener8 Maritime during the second quarter valued at approximately $110,000. Voya Investment Management LLC boosted its position in shares of 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 during the last quarter. American International Group Inc. boosted its position in shares of 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. Alliancebernstein L.P. boosted its position in shares of 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 during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Gener8 Maritime during the second quarter valued at approximately $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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