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

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.92 and traded as high as $12.65. Seanergy Maritime shares last traded at $12.37, with a volume of 157,560 shares.

Analysts Set New Price Targets

SHIP has been the subject of several recent research reports. Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Wall Street Zen raised Seanergy Maritime from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Noble Financial reaffirmed an “outperform” rating on shares of Seanergy Maritime in a research report on Monday, February 9th. B. Riley Financial raised their price target on shares of Seanergy Maritime from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Seanergy Maritime in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Seanergy Maritime presently has an average rating of “Buy” and an average price target of $17.00.

Seanergy Maritime Trading Down 0.5%

The company has a debt-to-equity ratio of 1.03, a current ratio of 0.39 and a quick ratio of 0.37. The business has a 50-day moving average of $11.72 and a 200-day moving average of $9.94. The firm has a market cap of $266.89 million, a price-to-earnings ratio of 12.77 and a beta of 0.83.

Seanergy Maritime Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be given a dividend of $0.20 per share. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.80 annualized dividend and a dividend yield of 6.3%. Seanergy Maritime’s payout ratio is presently 52.00%.

Institutional Investors Weigh In On Seanergy Maritime

Several large investors have recently made changes to their positions in SHIP. Walleye Capital LLC increased its holdings in Seanergy Maritime by 674.4% during the fourth quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company’s stock worth $2,718,000 after buying an additional 256,492 shares during the last quarter. Millennium Management LLC grew its position in shares of 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 acquiring an additional 234,672 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Seanergy Maritime by 512.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company’s stock valued at $546,000 after acquiring an additional 72,423 shares during the period. Jane Street Group LLC grew its position in shares of Seanergy Maritime by 235.9% in the 4th quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company’s stock valued at $926,000 after acquiring an additional 70,481 shares during the period. Finally, Triumph Capital Management acquired a new position in shares of Seanergy Maritime during the 3rd quarter worth about $355,000. Institutional investors and hedge funds own 29.36% of the company’s stock.

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.