Seanergy Maritime (NASDAQ:SHIP) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.52 and traded as high as $9.90. Seanergy Maritime shares last traded at $9.60, with a volume of 75,075 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Zacks Research cut Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Wall Street Zen upgraded Seanergy Maritime from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Seanergy Maritime Stock Up 1.9%

The stock has a market cap of $204.42 million, a PE ratio of 13.40 and a beta of 0.67. The business has a 50 day moving average price of $9.72 and a 200 day moving average price of $8.54. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 1.06.

Seanergy Maritime Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 29th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, December 29th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.05. Seanergy Maritime’s dividend payout ratio is 71.23%.

Institutional Trading of Seanergy Maritime

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in Seanergy Maritime during the third quarter valued at $85,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Seanergy Maritime during the 2nd quarter worth about $90,000. Virtu Financial LLC purchased a new stake in shares of Seanergy Maritime during the 3rd quarter worth about $134,000. Centiva Capital LP acquired a new stake in shares of Seanergy Maritime during the 3rd quarter valued at about $139,000. Finally, WMG Financial Advisors LLC purchased a new position in shares of Seanergy Maritime in the 2nd quarter valued at about $109,000. 29.36% of the stock is owned by hedge funds and other institutional investors.

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.