Seanergy Maritime (NASDAQ:SHIP) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) shares 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 traded.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SHIP shares. Wall Street Zen upgraded Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Seanergy Maritime in a 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 investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.00.

Seanergy Maritime Stock Down 2.7%

The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $200.64 million, a P/E ratio of 13.15 and a beta of 0.67. The stock’s 50-day simple moving average is $9.71 and its 200-day simple moving average is $8.52.

Seanergy Maritime Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Monday, December 29th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, December 29th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.05. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.4%. Seanergy Maritime’s dividend payout ratio (DPR) is 71.23%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SHIP. Arrowstreet Capital Limited Partnership grew its stake in Seanergy Maritime by 512.1% in the 2nd 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. Millennium Management LLC purchased a new position in shares of Seanergy Maritime in the 3rd quarter worth about $484,000. Triumph Capital Management bought a new position in Seanergy Maritime during the third quarter valued at about $355,000. Mackenzie Financial Corp purchased a new stake in Seanergy Maritime during the third quarter worth about $345,000. Finally, GSA Capital Partners LLP bought a new stake in Seanergy Maritime in the third quarter worth about $324,000. Hedge funds and other 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.