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

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 $8.39 and traded as high as $9.47. Seanergy Maritime shares last traded at $9.17, with a volume of 142,671 shares traded.

Wall Street Analysts Forecast Growth

SHIP has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Seanergy Maritime from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Monday, December 29th. Finally, Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Seanergy Maritime presently has an average rating of “Buy” and a consensus price target of $11.00.

Seanergy Maritime Stock Down 2.7%

The company has a market cap of $191.65 million, a P/E ratio of 12.56 and a beta of 0.67. The stock has a fifty day moving average price of $9.59 and a two-hundred day moving average price of $8.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.39 and a quick ratio of 0.37.

Seanergy Maritime Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Monday, December 29th were given a $0.13 dividend. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.05. This represents a $0.52 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Monday, December 29th. Seanergy Maritime’s dividend payout ratio (DPR) is 71.23%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in Seanergy Maritime by 56.2% during the third quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock valued at $367,000 after acquiring an additional 15,991 shares in the last quarter. Triumph Capital Management bought a new position in Seanergy Maritime in the 3rd quarter valued at $355,000. Allworth Financial LP purchased a new position in shares of Seanergy Maritime during the 3rd quarter valued at $85,000. Millennium Management LLC bought a new position in shares of Seanergy Maritime in the third quarter worth $484,000. Finally, Centiva Capital LP purchased a new stake in shares of Seanergy Maritime in the third quarter worth $139,000. 29.36% of the stock is 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.