Seanergy Maritime (NASDAQ:SHIP) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.67 and traded as high as $11.10. Seanergy Maritime shares last traded at $10.80, with a volume of 283,906 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Zacks Research downgraded Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Wall Street Zen upgraded shares of Seanergy Maritime from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.00.

Seanergy Maritime Stock Up 0.6%

The company has a debt-to-equity ratio of 1.06, a current ratio of 0.39 and a quick ratio of 0.37. The firm’s 50-day moving average price is $9.82 and its 200 day moving average price is $8.67. The firm has a market capitalization of $225.72 million, a price-to-earnings ratio of 14.79 and a beta of 0.67.

Seanergy Maritime Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 29th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.8%. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, December 29th. Seanergy Maritime’s payout ratio is presently 71.23%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Seanergy Maritime by 56.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock worth $367,000 after purchasing an additional 15,991 shares during the last quarter. Triumph Capital Management purchased a new position in shares of Seanergy Maritime during the third quarter valued at approximately $355,000. Allworth Financial LP acquired a new stake in Seanergy Maritime during the third quarter worth approximately $85,000. Millennium Management LLC purchased a new stake in Seanergy Maritime in the 3rd quarter worth approximately $484,000. Finally, Centiva Capital LP purchased a new stake in Seanergy Maritime in the 3rd quarter worth approximately $139,000. Institutional investors and hedge funds own 29.36% of the company’s stock.

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.