Seanergy Maritime (NASDAQ:SHIP) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s stock price crossed 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.

Analysts Set New Price Targets

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

Seanergy Maritime Price Performance

The firm has a market capitalization of $312.66 million, a P/E ratio of 8.36 and a beta of 0.94. 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 business’s 50 day moving average is $15.19 and its 200-day moving average is $13.14.

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

Seanergy Maritime Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in shares of Seanergy Maritime by 15.8% in the 1st quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company’s stock valued at $8,421,000 after purchasing an additional 88,800 shares in the last quarter. Walleye Capital LLC lifted its stake in Seanergy Maritime by 674.4% in the 4th quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company’s stock valued at $2,718,000 after purchasing an additional 256,492 shares during the last quarter. Millennium Management LLC lifted its stake in Seanergy Maritime by 400.8% in the 4th quarter. Millennium Management LLC now owns 293,220 shares of the shipping company’s stock valued at $2,706,000 after purchasing an additional 234,672 shares during the last quarter. Bank of America Corp DE boosted its position in Seanergy Maritime by 5.8% in the first quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock valued at $2,065,000 after buying an additional 8,800 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Seanergy Maritime by 235.9% in the fourth quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company’s stock valued at $926,000 after buying an additional 70,481 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.