Seanergy Maritime (NASDAQ:SHIP) Stock Price Expected to Rise, B. Riley Financial Analyst Says

Seanergy Maritime (NASDAQ:SHIP) had its price target lifted by analysts at B. Riley Financial from $15.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. B. Riley Financial’s price target points to a potential upside of 25.00% from the company’s current price.

Several other equities analysts have also issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Zacks Research raised shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Noble Financial restated an “outperform” rating on shares of Seanergy Maritime in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $17.00.

Seanergy Maritime Stock Up 1.0%

NASDAQ:SHIP opened at $13.60 on Wednesday. The firm’s 50 day simple moving average is $10.12 and its 200 day simple moving average is $9.11. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.39 and a quick ratio of 0.37. Seanergy Maritime has a one year low of $4.78 and a one year high of $13.87. The company has a market cap of $284.24 million, a PE ratio of 13.60 and a beta of 0.89.

Institutional Trading of Seanergy Maritime

Institutional investors have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Seanergy Maritime during the 2nd quarter worth approximately $90,000. R Squared Ltd purchased a new stake in shares of Seanergy Maritime during the second quarter valued at approximately $122,000. Mackenzie Financial Corp purchased a new stake in shares of Seanergy Maritime during the third quarter valued at approximately $345,000. JPMorgan Chase & Co. lifted its holdings in Seanergy Maritime by 56.2% during the third quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock worth $367,000 after acquiring an additional 15,991 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Seanergy Maritime by 12.9% in the second quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock worth $150,000 after purchasing an additional 2,713 shares during the last quarter. Institutional investors 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.