Seanergy Maritime (NASDAQ:SHIP) Shares Cross Above 200 Day Moving Average – Here’s Why

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.02 and traded as high as $9.80. Seanergy Maritime shares last traded at $9.58, with a volume of 193,072 shares.

Analysts Set New Price Targets

SHIP has been the topic of several research analyst reports. Wall Street Zen upgraded Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a report on Monday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $11.00.

Seanergy Maritime Trading Down 0.2%

The firm has a 50-day simple moving average of $9.18 and a 200-day simple moving average of $8.02. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 1.06. The stock has a market cap of $200.22 million, a PE ratio of 13.12 and a beta of 0.68.

Seanergy Maritime Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Monday, December 29th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 29th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.05. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.4%. Seanergy Maritime’s payout ratio is currently 27.40%.

Hedge Funds Weigh In On Seanergy Maritime

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in shares of Seanergy Maritime by 12.9% during the second quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock worth $150,000 after purchasing an additional 2,713 shares in the last quarter. R Squared Ltd lifted its position in Seanergy Maritime by 28.0% during the third quarter. R Squared Ltd now owns 24,708 shares of the shipping company’s stock valued at $204,000 after purchasing an additional 5,405 shares during the last quarter. Allworth Financial LP bought a new stake in Seanergy Maritime during the third quarter valued at approximately $85,000. Campbell & CO Investment Adviser LLC purchased a new position in Seanergy Maritime in the 2nd quarter worth approximately $90,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Seanergy Maritime by 56.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock worth $367,000 after buying an additional 15,991 shares during the last quarter. Hedge funds and other institutional investors own 29.36% of the company’s stock.

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.