Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Sees Large Growth in Short Interest

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 435,600 shares, a growth of 29.4% from the February 28th total of 336,700 shares. Based on an average daily trading volume, of 229,300 shares, the days-to-cover ratio is presently 1.9 days. Approximately 3.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com downgraded Seanergy Maritime from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Maxim Group dropped their price target on shares of Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SHIP. R Squared Ltd acquired a new position in shares of Seanergy Maritime during the fourth quarter worth about $25,000. Quarry LP lifted its position in shares of Seanergy Maritime by 77.9% during the 3rd quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 1,321 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Seanergy Maritime in the 4th quarter worth approximately $70,000. Boothbay Fund Management LLC purchased a new position in Seanergy Maritime in the 4th quarter valued at approximately $76,000. Finally, Aigen Investment Management LP purchased a new stake in Seanergy Maritime during the fourth quarter worth $84,000. 29.36% of the stock is owned by hedge funds and other institutional investors.

Seanergy Maritime Stock Performance

Shares of NASDAQ SHIP traded down $0.05 during trading hours on Wednesday, reaching $6.41. The stock had a trading volume of 30,460 shares, compared to its average volume of 221,058. The firm has a 50-day moving average of $6.98 and a 200-day moving average of $8.25. The firm has a market cap of $130.60 million, a price-to-earnings ratio of 2.74 and a beta of 0.45. The company has a current ratio of 1.99, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. Seanergy Maritime has a fifty-two week low of $6.24 and a fifty-two week high of $13.19.

Seanergy Maritime Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, March 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.24%. Seanergy Maritime’s dividend payout ratio (DPR) is presently 18.96%.

About Seanergy Maritime

Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.