Seanergy Maritime (NASDAQ:SHIP) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.48 and traded as high as $17.22. Seanergy Maritime shares last traded at $16.89, with a volume of 158,679 shares traded.

Wall Street Analysts Forecast Growth

SHIP has been the subject of several research reports. Weiss Ratings upgraded shares of Seanergy Maritime from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, B. Riley Financial increased their target price on Seanergy Maritime from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $25.00.

Seanergy Maritime Stock Performance

The firm has a market capitalization of $365.75 million, a price-to-earnings ratio of 6.12 and a beta of 0.92. The firm has a 50 day moving average price of $15.53 and a 200-day moving average price of $14.52. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.85 and a quick ratio of 0.83.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings data on Thursday, July 30th. The shipping company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. Seanergy Maritime had a net margin of 30.68% and a return on equity of 21.87%. The company had revenue of $55.69 million for the quarter, compared to the consensus estimate of $53.90 million. As a group, sell-side analysts expect that Seanergy Maritime Holdings Corp will post 3.16 earnings per share for the current fiscal year.

Seanergy Maritime Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a dividend of $0.35 per share. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.20. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Friday, September 25th. Seanergy Maritime’s dividend payout ratio is 27.97%.

Insider Activity

In other Seanergy Maritime news, Director Christina Anagnostara sold 15,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $17.19, for a total value of $257,850.00. Following the transaction, the director directly owned 178,239 shares of the company’s stock, valued at approximately $3,063,928.41. The trade was a 7.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Seanergy Maritime

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in shares of Seanergy Maritime during the 4th quarter worth approximately $41,000. Truist Financial Corp purchased a new position in Seanergy Maritime in the 4th quarter valued at approximately $113,000. Susquehanna Fundamental Investments LLC acquired a new position in Seanergy Maritime during the fourth quarter worth $119,000. Jane Street Group LLC purchased a new stake in Seanergy Maritime during the second quarter worth $124,000. Finally, Virtu Financial LLC purchased a new stake in Seanergy Maritime during the third quarter worth $134,000. 29.36% of the stock is owned by institutional investors and hedge funds.

Seanergy Maritime Company Profile

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.