Seanergy Maritime (NASDAQ:SHIP) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.12 and traded as high as $12.95. Seanergy Maritime shares last traded at $12.40, with a volume of 176,708 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SHIP shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a report on Monday, December 29th. Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. B. Riley Financial raised their target price on shares of Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Noble Financial reaffirmed an “outperform” rating on shares of Seanergy Maritime in a research note on Monday, February 9th. One 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 company. Based on data from MarketBeat.com, Seanergy Maritime has a consensus rating of “Buy” and a consensus price target of $17.00.

Seanergy Maritime Price Performance

The firm has a market capitalization of $259.16 million, a P/E ratio of 12.40 and a beta of 0.83. The business’s fifty day moving average is $12.11 and its 200 day moving average is $10.12. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 1.03.

Seanergy Maritime Increases Dividend

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

Institutional Investors Weigh In On Seanergy Maritime

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in shares of Seanergy Maritime in the 4th quarter valued at $41,000. Allworth Financial LP acquired a new stake in Seanergy Maritime during the 3rd quarter worth about $85,000. Truist Financial Corp purchased a new stake in Seanergy Maritime during the fourth quarter valued at about $113,000. Susquehanna Fundamental Investments LLC purchased a new stake in Seanergy Maritime during the fourth quarter valued at about $119,000. Finally, Jane Street Group LLC acquired a new position in shares of Seanergy Maritime in the second quarter worth about $124,000. 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.