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

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.52 and traded as high as $9.90. Seanergy Maritime shares last traded at $9.60, with a volume of 75,075 shares changing hands.

Analyst Ratings Changes

SHIP has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Seanergy Maritime from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Monday, December 29th. Finally, Zacks Research downgraded Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Seanergy Maritime currently has an average rating of “Hold” and a consensus target price of $11.00.

Seanergy Maritime Trading Down 2.7%

The firm’s 50 day simple moving average is $9.71 and its two-hundred day simple moving average is $8.52. The stock has a market capitalization of $200.64 million, a P/E ratio of 13.15 and a beta of 0.67. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 1.06.

Seanergy Maritime Increases Dividend

The company 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. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, December 29th. This represents a $0.52 dividend on an annualized basis and a yield of 5.4%. Seanergy Maritime’s dividend payout ratio (DPR) is currently 71.23%.

Institutional Investors Weigh In On Seanergy Maritime

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position 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 during the period. R Squared Ltd increased its stake in Seanergy Maritime by 28.0% during the 3rd 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 in the last quarter. Allworth Financial LP acquired a new position in Seanergy Maritime during the third quarter worth $85,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Seanergy Maritime in the second quarter valued at $90,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Seanergy Maritime by 56.2% in the third quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock valued at $367,000 after buying an additional 15,991 shares in the last quarter. Institutional investors and hedge funds own 29.36% of the company’s stock.

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.