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

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.92 and traded as high as $12.65. Seanergy Maritime shares last traded at $12.37, with a volume of 157,560 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SHIP shares. Wall Street Zen raised Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a report on Monday, December 29th. Noble Financial restated an “outperform” rating on shares of Seanergy Maritime in a research report on Monday, February 9th. Zacks Research raised shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, B. Riley Financial increased their price objective on shares of Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $17.00.

Seanergy Maritime Price Performance

The company’s 50 day moving average price is $11.66 and its 200 day moving average price is $9.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.37 and a current ratio of 0.39. The company has a market cap of $258.53 million, a price-to-earnings ratio of 12.37 and a beta of 0.83.

Seanergy Maritime Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a dividend of $0.20 per share. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 27th. This represents a $0.80 dividend on an annualized basis and a yield of 6.5%. Seanergy Maritime’s dividend payout ratio is currently 52.00%.

Institutional Investors Weigh In On Seanergy Maritime

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in shares of Seanergy Maritime by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company’s stock valued at $5,201,000 after purchasing an additional 3,800 shares during the last quarter. Walleye Capital LLC grew its holdings in Seanergy Maritime by 674.4% during the 4th quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company’s stock worth $2,718,000 after acquiring an additional 256,492 shares during the period. Millennium Management LLC grew its stake in shares of Seanergy Maritime by 400.8% during the fourth quarter. Millennium Management LLC now owns 293,220 shares of the shipping company’s stock worth $2,706,000 after purchasing an additional 234,672 shares during the period. Jane Street Group LLC grew its position in shares of Seanergy Maritime by 235.9% during the 4th quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company’s stock worth $926,000 after buying an additional 70,481 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Seanergy Maritime by 512.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company’s stock valued at $546,000 after purchasing an additional 72,423 shares during the period. Institutional investors 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.