Gener8 Maritime Inc (GNRT) Rating Increased to Hold at BidaskClub

Gener8 Maritime Inc (NASDAQ:GNRT) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other brokerages have also issued reports on GNRT. Jefferies Group LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Gener8 Maritime in a research report on Monday, August 7th. TheStreet upgraded shares of Gener8 Maritime from a “d” rating to a “c-” rating in a research report on Wednesday, August 9th. ValuEngine lowered shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Finally, Zacks Investment Research lowered shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $10.00.

Shares of Gener8 Maritime (GNRT) opened at 4.86 on Friday. The firm’s market cap is $403.32 million. Gener8 Maritime has a 52 week low of $3.52 and a 52 week high of $6.16. The company has a 50 day moving average of $4.68 and a 200 day moving average of $4.81.

Gener8 Maritime (NASDAQ:GNRT) last announced 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). The company had revenue of $74.95 million during the quarter, compared to the consensus estimate of $76.55 million. Gener8 Maritime had a negative net margin of 110.14% and a negative return on equity of 23.25%. The business’s quarterly revenue was down 29.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. On average, equities research analysts anticipate that Gener8 Maritime will post ($0.02) EPS for the current fiscal year.

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Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of Gener8 Maritime by 2.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock valued at $171,000 after purchasing an additional 700 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Gener8 Maritime by 4.7% during the 1st quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock valued at $139,000 after purchasing an additional 1,100 shares in the last quarter. American International Group Inc. boosted its position in shares of Gener8 Maritime by 7.1% during the 1st quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock valued at $137,000 after purchasing an additional 1,598 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Gener8 Maritime by 1.0% during the 1st 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, California State Teachers Retirement System boosted its position in shares of Gener8 Maritime by 5.8% during the 2nd quarter. California State Teachers Retirement System now owns 83,624 shares of the shipping company’s stock valued at $476,000 after purchasing an additional 4,600 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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