Seanergy Maritime (NASDAQ:SHIP) Stock 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 Tuesday . The stock has a 200-day moving average of $8.39 and traded as high as $9.47. Seanergy Maritime shares last traded at $9.17, with a volume of 142,671 shares.

Wall Street Analyst Weigh In

SHIP has been the subject of a number of research analyst reports. Wall Street Zen upgraded Seanergy Maritime from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $11.00.

Seanergy Maritime Price Performance

The stock has a market capitalization of $191.65 million, a P/E ratio of 12.56 and a beta of 0.67. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.37 and a current ratio of 0.39. The firm has a 50-day moving average price of $9.59 and a 200 day moving average price of $8.39.

Seanergy Maritime Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Monday, December 29th were paid a $0.13 dividend. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.05. This represents a $0.52 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Monday, December 29th. Seanergy Maritime’s payout ratio is presently 71.23%.

Hedge Funds Weigh In On Seanergy Maritime

Several institutional investors and hedge funds have recently bought and sold shares of SHIP. Allworth Financial LP bought a new stake in Seanergy Maritime during the 3rd quarter valued at $85,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Seanergy Maritime during the second quarter valued at about $90,000. Virtu Financial LLC purchased a new stake in shares of Seanergy Maritime during the third quarter worth about $134,000. Centiva Capital LP bought a new stake in shares of Seanergy Maritime in the third quarter worth about $139,000. Finally, WMG Financial Advisors LLC purchased a new position in Seanergy Maritime during the 2nd quarter valued at about $109,000. 29.36% of the stock is currently 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.