Gener8 Maritime Inc (NASDAQ:GNRT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued 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. “

Several other equities analysts also recently weighed in on GNRT. Jefferies Group LLC reiterated a “buy” rating and set a $10.00 target price on shares of Gener8 Maritime in a research report on Monday, August 7th. BidaskClub upgraded Gener8 Maritime from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. TheStreet upgraded 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Gener8 Maritime has a consensus rating of “Hold” and an average price target of $10.00.

Gener8 Maritime (GNRT) traded down 4.05% during mid-day trading on Monday, hitting $4.74. The company had a trading volume of 216,493 shares. The firm’s 50 day moving average is $4.71 and its 200 day moving average is $4.71. The company’s market capitalization is $393.36 million. Gener8 Maritime has a 52 week low of $3.52 and a 52 week 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 for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.05). The company had revenue of $74.95 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 29.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. On average, equities research analysts predict that Gener8 Maritime will post ($0.05) EPS for the current year.

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Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in shares of Gener8 Maritime by 2.4% in the second quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock valued at $171,000 after acquiring an additional 700 shares in the last quarter. Alliancebernstein L.P. lifted 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 acquiring an additional 1,100 shares in the last quarter. American International Group Inc. lifted 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 acquiring an additional 1,598 shares in the last quarter. Bank of New York Mellon Corp lifted 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 acquiring an additional 2,254 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Gener8 Maritime by 5.8% in the second quarter. California State Teachers Retirement System now owns 83,624 shares of the shipping company’s stock valued at $476,000 after acquiring an additional 4,600 shares in 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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