Seanergy Maritime (NASDAQ:SHIP) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.85 and traded as high as $11.01. Seanergy Maritime shares last traded at $10.81, with a volume of 127,396 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHIP. Noble Financial reaffirmed an “outperform” rating on shares of Seanergy Maritime in a research report on Monday. Zacks Research downgraded Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Wall Street Zen upgraded Seanergy Maritime from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Seanergy Maritime Price Performance

The firm has a 50 day moving average price of $9.86 and a two-hundred day moving average price of $8.85. The company has a market cap of $225.93 million, a P/E ratio of 14.81 and a beta of 0.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.37 and a current ratio of 0.39.

Institutional Trading of Seanergy Maritime

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Truist Financial Corp bought a new position in shares of Seanergy Maritime during the fourth quarter valued at $113,000. JPMorgan Chase & Co. grew its position in Seanergy Maritime by 56.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock valued at $367,000 after purchasing an additional 15,991 shares during the last quarter. Triumph Capital Management bought a new stake in Seanergy Maritime during the 3rd quarter valued at about $355,000. Allworth Financial LP bought a new stake in Seanergy Maritime during the 3rd quarter valued at about $85,000. Finally, Millennium Management LLC purchased a new position in Seanergy Maritime in the third quarter worth about $484,000. 29.36% of the stock is owned by hedge funds and other institutional investors.

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.