Does Gener8 Maritime Inc (GNRT) Have Any Gas After Forming This Multiple Top Chart Pattern?

July 26, 2017 - By Clifton Ray

The stock of Gener8 Maritime Inc (GNRT) shows a multiple tops pattern with $6.04 target or 9.00 % above today’s $5.54 share price. The 8 months chart pattern indicates low risk for the $456.32M company. It was reported on Jul, 26 by Finviz.com. If the $6.04 price target is reached, the company will be worth $41.07 million 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 decreased 0.54% or $0.03 during the last trading session, reaching $5.54. About shares traded. Gener8 Maritime Inc (NYSE:GNRT) has declined 26.90% since July 26, 2016 and is downtrending. It has underperformed by 43.60% the S&P500.

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 has $17 highest and $1000 lowest target. $13.83’s average target is 149.64% above currents $5.54 stock price. Gener8 Maritime had 6 analyst reports since September 14, 2015 according to SRatingsIntel. Seaport Global reinitiated the stock with “Buy” rating in Wednesday, May 4 report. The stock of Gener8 Maritime Inc (NYSE:GNRT) earned “Buy” rating by Jefferies on Tuesday, May 30. On Wednesday, July 27 the stock rating was maintained by Jefferies with “Buy”. As per Monday, September 14, the company rating was initiated by Morgan Stanley. The company was maintained on Monday, July 3 by Jefferies.

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 News …” on April 27, 2017, also Prnewswire.com with their article: “Gener8 Maritime, Inc. Announces Delivery of the Gener8 Macedon” published on August 31, 2016, Hellenicshippingnews.com published: “Gener8 Maritime Inc (NASDAQ:GNRT) Given Consensus Recommendation of “Hold” by …” on July 23, 2017. More interesting news about Gener8 Maritime Inc (NYSE:GNRT) were released by: Prnewswire.com and their article: “Gener8 Maritime, Inc. Announces Second Quarter 2017 Financial Results News …” published on July 20, 2017 as well as Fool.com‘s news article titled: “Why Gener8 Maritime, Inc. Shares Rose 6%” with publication date: March 13, 2017.

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