The stock of Gener8 Maritime Inc (NYSE:GNRT) reached all time low today, Oct, 31 and still has $3.71 target or 13.00% below today’s $4.27 share price. This indicates more downside for the $337.83 million company. This technical setup was reported by Barchart.com. If the $3.71 PT is reached, the company will be worth $43.92M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 131,416 shares traded hands. Gener8 Maritime Inc (NYSE:GNRT) has declined 32.63% since March 29, 2016 and is downtrending. It has underperformed by 36.10% the S&P500.
Analysts await Gener8 Maritime Inc (NYSE:GNRT) to report earnings on November, 14. They expect $0.22 EPS, down 47.62% or $0.20 from last year’s $0.42 per share. GNRT’s profit will be $17.41 million for 4.85 P/E if the $0.22 EPS becomes a reality. After $0.49 actual EPS reported by Gener8 Maritime Inc for the previous quarter, Wall Street now forecasts -55.10% negative EPS growth.
Gener8 Maritime Inc (NYSE:GNRT) Ratings Coverage
Out of 3 analysts covering Gener8 Maritime (NYSE:GNRT), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Gener8 Maritime has been the topic of 4 analyst reports since September 14, 2015 according to StockzIntelligence Inc. Morgan Stanley initiated the shares of GNRT in a report on Monday, September 14 with “Equal-Weight” rating. The stock of Gener8 Maritime Inc (NYSE:GNRT) has “Buy” rating given on Wednesday, July 27 by Jefferies. Seaport Global reinitiated it with “Buy” rating and $15 target price in Wednesday, May 4 report.
According to Zacks Investment Research, “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.”
More notable recent Gener8 Maritime Inc (NYSE:GNRT) news were published by: Prnewswire.com which released: “Gener8 Maritime, Inc. Announces Delivery of the Gener8 Miltiades” on October 27, 2016, also Prnewswire.com with their article: “Gener8 Maritime, Inc. Announces Delivery of the Gener8 Macedon” published on August 31, 2016, Prnewswire.com published: “Gener8 Maritime, Inc. Announces Delivery of the Gener8 Chiotis” on August 22, 2016. More interesting news about Gener8 Maritime Inc (NYSE:GNRT) were released by: Marketwatch.com and their article: “Virtual Stock Exchange” published on May 29, 2015 as well as Prnewswire.com‘s news article titled: “Gener8 Maritime, Inc. Announces Delivery of the Gener8 Perseus and Gener8 Oceanus” with publication date: September 12, 2016.
GNRT Company Profile
Gener8 Maritime, Inc., formerly General Maritime Corporation, incorporated on August 1, 2008, is a well-known provider of international seaborne crude oil transportation services. The Firm operates through the segment, which includes the transportation of international seaborne crude oil and petroleum products with its fleet of vessels. The Firm owns a fleet of over 45 tankers, including 31 vessels on the water consisting of 14 Very Large Crude Carriers (VLCCs), approximately 11 Suezmax vessels, over four Aframax vessels and approximately two Panamax vessels with an aggregate carrying capacity of approximately 6.6 million deadweight tons.
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