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

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.39 and traded as high as $14.76. Seanergy Maritime shares last traded at $14.41, with a volume of 183,229 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SHIP shares. B. Riley Financial increased their price target on Seanergy Maritime from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Zacks Research downgraded Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Seanergy Maritime in a research report on Wednesday, July 8th. Finally, Wall Street Zen upgraded Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Seanergy Maritime Stock Performance

The company has a market capitalization of $301.17 million, a PE ratio of 8.05 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The firm’s 50-day simple moving average is $15.02 and its 200-day simple moving average is $13.39.

Seanergy Maritime (NASDAQ:SHIP) last issued its earnings results on Thursday, May 28th. The shipping company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.24. Seanergy Maritime had a net margin of 20.96% and a return on equity of 14.47%. The business had revenue of $42.85 million for the quarter, compared to the consensus estimate of $42.15 million. On average, research analysts predict that Seanergy Maritime Holdings Corp will post 2.7 earnings per share for the current year.

Seanergy Maritime Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 29th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $0.80 annualized dividend and a yield of 5.6%. Seanergy Maritime’s dividend payout ratio is 44.69%.

Institutional Investors Weigh In On Seanergy Maritime

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Seanergy Maritime by 512.1% in 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 period. Jane Street Group LLC bought a new position in shares of Seanergy Maritime during the 2nd quarter worth $124,000. BNP Paribas Financial Markets increased its stake 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 valued at $150,000 after buying an additional 2,713 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Seanergy Maritime by 56.2% during 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 during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of Seanergy Maritime in the third quarter valued at about $345,000. 29.36% of the stock is owned by institutional investors.

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.