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

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.14 and traded as high as $18.92. Seanergy Maritime shares last traded at $18.27, with a volume of 591,895 shares.

Wall Street Analysts Forecast Growth

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

Seanergy Maritime Stock Performance

The stock’s 50-day moving average price is $16.45 and its 200 day moving average price is $15.17. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.85 and a quick ratio of 0.83. The firm has a market cap of $381.25 million, a P/E ratio of 6.38 and a beta of 0.89.

Seanergy Maritime (NASDAQ:SHIP) last released its earnings results on Thursday, July 30th. The shipping company reported $1.32 earnings per share 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 business had revenue of $55.69 million during the quarter, compared to the consensus estimate of $53.90 million. As a group, equities analysts predict that Seanergy Maritime Holdings Corp will post 3.16 EPS for the current year.

Seanergy Maritime Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a $0.35 dividend. 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 7.7%. The ex-dividend date of this dividend is Friday, September 25th. Seanergy Maritime’s dividend payout ratio (DPR) is presently 48.95%.

Insider Transactions at Seanergy Maritime

In related news, Director Christina Anagnostara sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $17.19, for a total transaction of $257,850.00. Following the sale, the director owned 178,239 shares in the company, valued at approximately $3,063,928.41. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SHIP. Russell Investments Group Ltd. acquired a new position in shares of Seanergy Maritime during the 4th quarter worth approximately $41,000. Truist Financial Corp acquired a new stake in shares of Seanergy Maritime in the 4th quarter valued at approximately $113,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Seanergy Maritime in the fourth quarter valued at $119,000. Virtu Financial LLC bought a new position in shares of Seanergy Maritime in the third quarter valued at $134,000. Finally, Centiva Capital LP acquired a new position in Seanergy Maritime during the third quarter worth $139,000. 29.36% of the stock is currently owned by 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.