Gener8 Maritime Inc (GNRT) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Gener8 Maritime Inc (NASDAQ:GNRT) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Gener8 Maritime from a hold rating to a sell rating in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a buy rating and set a $10.00 price target on shares of Gener8 Maritime in a research report on Monday, August 7th. ValuEngine downgraded shares of Gener8 Maritime from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, TheStreet raised shares of Gener8 Maritime from a d rating to a c- rating in a research report on Wednesday, August 9th. 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. Gener8 Maritime presently has an average rating of Hold and an average target price of $10.00.

Shares of Gener8 Maritime (NASDAQ GNRT) traded up 2.75% during trading on Friday, hitting $4.86. The stock had a trading volume of 317,335 shares. The stock has a 50 day moving average of $4.68 and a 200 day moving average of $4.81. 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 $5.69.

Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings results 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. Gener8 Maritime had a negative net margin of 110.14% and a negative return on equity of 23.25%. Gener8 Maritime’s revenue was down 29.3% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. On average, equities analysts anticipate that Gener8 Maritime will post ($0.02) EPS for the current year.

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A number of large investors have recently bought and sold shares of GNRT. Marshall Wace North America L.P. bought a new stake in Gener8 Maritime in the 2nd quarter worth approximately $110,000. Voya Investment Management LLC grew its position 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 worth $131,000 after purchasing an additional 5,219 shares during the period. American International Group Inc. grew its position in Gener8 Maritime by 7.1% in the 1st quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock worth $137,000 after purchasing an additional 1,598 shares during the period. Alliancebernstein L.P. grew its position in Gener8 Maritime by 4.7% in the 1st quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock worth $139,000 after purchasing an additional 1,100 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Gener8 Maritime in the 2nd quarter worth 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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