Seanergy Maritime (NASDAQ:SHIP) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.67 and traded as high as $11.10. Seanergy Maritime shares last traded at $10.80, with a volume of 283,906 shares traded.

Analysts Set New Price Targets

SHIP has been the topic of a number of research reports. Wall Street Zen raised shares of Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a report on Monday, December 29th. Finally, Zacks Research lowered Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Seanergy Maritime Price Performance

The company has a market capitalization of $225.72 million, a PE ratio of 14.79 and a beta of 0.67. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $9.82 and a 200-day simple moving average of $8.67.

Seanergy Maritime Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Monday, December 29th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, December 29th. This represents a $0.52 annualized dividend and a yield of 4.8%. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.05. Seanergy Maritime’s dividend payout ratio (DPR) is 71.23%.

Institutional Trading of Seanergy Maritime

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its stake in Seanergy Maritime by 512.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company’s stock worth $546,000 after buying an additional 72,423 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Seanergy Maritime during the third quarter worth approximately $484,000. 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 valued at $367,000 after acquiring an additional 15,991 shares during the period. Triumph Capital Management purchased a new stake in Seanergy Maritime in the 3rd quarter valued at $355,000. Finally, Mackenzie Financial Corp acquired a new stake in Seanergy Maritime during the 3rd quarter worth $345,000. Institutional investors and hedge funds own 29.36% of the company’s stock.

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.