Seanergy Maritime (NASDAQ:SHIP) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.14 and traded as high as $14.99. Seanergy Maritime shares last traded at $14.96, with a volume of 175,425 shares traded.

Analysts Set New Price Targets

SHIP has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Zacks Research cut shares of Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Seanergy Maritime in a research note on Wednesday. Finally, B. Riley Financial increased their target price on Seanergy Maritime from $17.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Seanergy Maritime Trading Up 5.0%

The business has a 50-day moving average of $15.19 and a 200-day moving average of $13.14. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 1.11. The stock has a market cap of $312.66 million, a price-to-earnings ratio of 8.36 and a beta of 0.94.

Seanergy Maritime (NASDAQ:SHIP) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.24. The company had revenue of $42.85 million during the quarter, compared to the consensus estimate of $42.15 million. Seanergy Maritime had a return on equity of 14.47% and a net margin of 20.96%. As a group, research analysts forecast that Seanergy Maritime Holdings Corp will post 2.7 earnings per share for the current year.

Seanergy Maritime Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 29th were issued a $0.20 dividend. The ex-dividend date was Monday, June 29th. This represents a $0.80 dividend on an annualized basis and a yield of 5.3%. Seanergy Maritime’s dividend payout ratio is currently 44.69%.

Hedge Funds Weigh In On Seanergy Maritime

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its stake in Seanergy Maritime by 4.2% in the first quarter. Cetera Investment Advisers now owns 20,504 shares of the shipping company’s stock valued at $265,000 after acquiring an additional 829 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock worth $150,000 after purchasing an additional 2,713 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Seanergy Maritime by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company’s stock worth $5,201,000 after purchasing an additional 3,800 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Seanergy Maritime during the 4th quarter valued at $41,000. Finally, Bank of America Corp DE raised its holdings in shares of Seanergy Maritime by 5.8% during the 1st quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock valued at $2,065,000 after purchasing an additional 8,800 shares in the last quarter. Institutional investors own 29.36% of the company’s stock.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company’s operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.

The company’s core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.