Seanergy Maritime (NASDAQ:SHIP) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.87 and traded as high as $10.26. Seanergy Maritime shares last traded at $10.22, with a volume of 225,427 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on SHIP shares. Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Wall Street Zen upgraded shares of Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $11.00.

Seanergy Maritime Price Performance

The company’s 50 day moving average price is $8.97 and its 200 day moving average price is $7.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.37 and a current ratio of 0.39. The company has a market cap of $213.60 million, a price-to-earnings ratio of 14.00 and a beta of 0.68.

Seanergy Maritime Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 29th will be paid a dividend of $0.13 per share. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.05. This represents a $0.52 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Monday, December 29th. Seanergy Maritime’s payout ratio is currently 27.40%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. WMG Financial Advisors LLC bought a new position in Seanergy Maritime in the 2nd quarter valued at $109,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Seanergy Maritime in the second quarter valued at $90,000. R Squared Ltd bought a new position in shares of Seanergy Maritime in the second quarter valued at about $122,000. Triumph Capital Management acquired a new position in Seanergy Maritime during the 3rd quarter worth about $355,000. Finally, Mackenzie Financial Corp bought a new stake in Seanergy Maritime during the 3rd quarter worth about $345,000. 29.36% of the stock is owned by institutional investors and hedge funds.

About Seanergy Maritime

Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.