Gener8 Maritime Inc (GNRT) Forms Bullish Multiple Top Pattern; Strong Momentum for Buyers Coming

September 17, 2017 - By Kurt Siggers

The stock of Gener8 Maritime Inc (GNRT) shows a multiple tops pattern with $5.30 target or 9.00 % above today’s $4.86 share price. The 5 months chart pattern indicates low risk for the $403.33M company. It was reported on Sep, 17 by Finviz.com. If the $5.30 price target is reached, the company will be worth $36.30M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 2.75% or $0.13 on September 15, reaching $4.86. About 317,335 shares traded or 31.91% up from the average. Gener8 Maritime Inc (NYSE:GNRT) has declined 26.90% since September 17, 2016 and is downtrending. It has underperformed by 43.60% the S&P500.

Analysts await Gener8 Maritime Inc (NYSE:GNRT) to report earnings on November, 13. They expect $-0.36 EPS, down 1,700.00 % or $0.34 from last year’s $-0.02 per share. After $-0.11 actual EPS reported by Gener8 Maritime Inc for the previous quarter, Wall Street now forecasts 227.27 % negative EPS growth.

Gener8 Maritime Inc (NYSE:GNRT) Ratings Coverage

Among 3 analysts covering Gener8 Maritime (NYSE:GNRT), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Gener8 Maritime had 7 analyst reports since September 14, 2015 according to SRatingsIntel. Jefferies maintained the stock with “Buy” rating in Monday, August 7 report. On Monday, September 14 the stock rating was initiated by Morgan Stanley with “Equal-Weight”. The firm earned “Buy” rating on Wednesday, July 27 by Jefferies. The stock of Gener8 Maritime Inc (NYSE:GNRT) earned “Buy” rating by Jefferies on Tuesday, May 30. The firm earned “Buy” rating on Monday, July 3 by Jefferies. As per Wednesday, May 4, the company rating was reinitiated by Seaport Global.

More notable recent Gener8 Maritime Inc (NYSE:GNRT) news were published by: Prnewswire.com which released: “Gener8 Maritime, Inc. Announces First Quarter 2017 Financial Results” on May 09, 2017, also Prnewswire.com with their article: “Gener8 Maritime, Inc. Announces First Quarter 2017 Financial Results News …” published on April 27, 2017, Prnewswire.com published: “Gener8 Maritime, Inc. Announces Second Quarter 2017 Financial Results News …” on July 20, 2017. More interesting news about Gener8 Maritime Inc (NYSE:GNRT) were released by: Hellenicshippingnews.com and their article: “Gener8 Maritime Inc (GNRT) Receives Average Rating of “Buy” from Analysts” published on April 24, 2017 as well as Zacks.com‘s news article titled: “Gener8 Maritime (GNRT) Rises: Stock Jumps 15% in Session June 19, 2017” with publication date: June 19, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.