Zacks Investment Research cut shares of Gener8 Maritime Inc (NASDAQ:GNRT) from a hold rating to a strong sell rating in a report published on Monday.

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. “

Other analysts also recently issued reports about the company. Jefferies Group LLC reissued a buy rating and issued a $10.00 target price on shares of Gener8 Maritime in a research report on Thursday, September 21st. BidaskClub raised Gener8 Maritime from a sell rating to a hold rating in a research report on Saturday, September 16th. TheStreet raised Gener8 Maritime from a d rating to a c- rating in a research report on Wednesday, August 9th. Finally, ValuEngine downgraded Gener8 Maritime from a buy rating to a hold rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $10.00.

Gener8 Maritime (GNRT) traded down 0.86% during mid-day trading on Monday, reaching $4.62. The company had a trading volume of 61,756 shares. The stock has a 50-day moving average of $4.71 and a 200 day moving average of $4.71. The company’s market capitalization is $383.40 million. Gener8 Maritime has a 12-month low of $3.52 and a 12-month high of $6.16.

Gener8 Maritime (NASDAQ:GNRT) last released its earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $74.95 million during the quarter, compared to analysts’ expectations of $76.55 million. During the same period in the prior year, the business earned $0.51 earnings per share. The business’s quarterly revenue was down 29.3% compared to the same quarter last year. On average, analysts expect that Gener8 Maritime will post ($0.07) EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in shares of Gener8 Maritime by 64.7% in the first quarter. Wells Fargo & Company MN now owns 44,685 shares of the shipping company’s stock valued at $254,000 after purchasing an additional 17,550 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Gener8 Maritime by 8.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 236,940 shares of the shipping company’s stock valued at $1,344,000 after purchasing an additional 18,126 shares in the last quarter. FMR LLC grew its position in shares of Gener8 Maritime by 617.8% in the first quarter. FMR LLC now owns 3,249,043 shares of the shipping company’s stock valued at $18,422,000 after purchasing an additional 2,796,417 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of 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 purchasing an additional 2,254 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Gener8 Maritime by 118.7% in the first quarter. Tower Research Capital LLC TRC now owns 30,298 shares of the shipping company’s stock valued at $172,000 after purchasing an additional 16,443 shares in the last quarter.

About Gener8 Maritime

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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