Is Selling Stock Like Gener8 Maritime, Inc. (GNRT) After This Bearish Double Bottom Pattern Winning Strategy?

January 23, 2018 - By Winifred Garcia

The chart of Gener8 Maritime, Inc. (GNRT) shows a double bottom with $5.89 target or 5.00 % below today’s $6.20 share price. The 6 months chart pattern indicates high risk for the $516.26M company. It was reported on Jan, 23 by If the $5.89 price target is reached, the company will be worth $25.81M less. Double bottoms are rare but powerful chart patterns.

It closed at $6.2 lastly. It is down 26.90% since January 23, 2017 and is downtrending. It has underperformed by 43.60% the S&P500.

Analysts await Gener8 Maritime, Inc. (NYSE:GNRT) to report earnings on March, 12. They expect $-0.10 EPS, down 143.48 % or $0.33 from last year’s $0.23 per share. After $-0.39 actual EPS reported by Gener8 Maritime, Inc. for the previous quarter, Wall Street now forecasts -74.36 % EPS growth.

Gener8 Maritime, Inc. (NYSE:GNRT) Ratings Coverage

Among 4 analysts covering Gener8 Maritime (NYSE:GNRT), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Gener8 Maritime has $17 highest and $10 lowest target. $13.83’s average target is 123.06% above currents $6.2 stock price. Gener8 Maritime had 11 analyst reports since September 14, 2015 according to SRatingsIntel. The rating was maintained by Jefferies on Tuesday, May 30 with “Buy”. The stock of Gener8 Maritime, Inc. (NYSE:GNRT) earned “Buy” rating by Jefferies on Monday, July 3. The company was maintained on Monday, September 18 by Jefferies. The firm earned “Buy” rating on Monday, August 7 by Jefferies. The firm has “Equal-Weight” rating by Morgan Stanley given on Monday, September 14. On Thursday, October 19 the stock rating was maintained by Jefferies with “Buy”. UBS downgraded the stock to “Neutral” rating in Thursday, January 4 report. Jefferies reinitiated Gener8 Maritime, Inc. (NYSE:GNRT) rating on Monday, December 18. Jefferies has “Buy” rating and $10 target. The firm has “Buy” rating by Jefferies given on Wednesday, July 27. Seaport Global reinitiated Gener8 Maritime, Inc. (NYSE:GNRT) rating on Wednesday, May 4. Seaport Global has “Buy” rating and $15 target.

Another recent and important Gener8 Maritime, Inc. (NYSE:GNRT) news was published by which published an article titled: “Gener8 Maritime Inc.” on May 29, 2015.

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