Seanergy Maritime (NASDAQ:SHIP) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.92 and traded as high as $12.65. Seanergy Maritime shares last traded at $12.37, with a volume of 157,560 shares trading hands.

Analysts Set New Price Targets

SHIP has been the subject of several recent research reports. Wall Street Zen raised Seanergy Maritime from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Noble Financial reiterated an “outperform” rating on shares of Seanergy Maritime in a research note on Monday, February 9th. Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. B. Riley Financial upped their price target on shares of Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $17.00.

Seanergy Maritime Trading Down 0.4%

The company has a debt-to-equity ratio of 1.03, a current ratio of 0.39 and a quick ratio of 0.37. The firm has a fifty day simple moving average of $11.66 and a two-hundred day simple moving average of $9.92. The firm has a market capitalization of $258.53 million, a P/E ratio of 12.37 and a beta of 0.83.

Seanergy Maritime Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be given a dividend of $0.20 per share. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.13. This represents a $0.80 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Friday, March 27th. Seanergy Maritime’s dividend payout ratio (DPR) is 52.00%.

Institutional Trading of Seanergy Maritime

Several hedge funds and other institutional investors have recently modified their holdings of the business. Walleye Capital LLC lifted its stake in shares of Seanergy Maritime by 674.4% during the 4th quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company’s stock valued at $2,718,000 after buying an additional 256,492 shares in the last quarter. Millennium Management LLC raised its stake in shares of Seanergy Maritime by 400.8% during the 4th quarter. Millennium Management LLC now owns 293,220 shares of the shipping company’s stock valued at $2,706,000 after purchasing an additional 234,672 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Seanergy Maritime by 512.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company’s stock worth $546,000 after purchasing an additional 72,423 shares in the last quarter. Jane Street Group LLC lifted its holdings in Seanergy Maritime by 235.9% during the 4th quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company’s stock worth $926,000 after purchasing an additional 70,481 shares in the last quarter. Finally, Triumph Capital Management bought a new position in Seanergy Maritime in the 3rd quarter worth about $355,000. 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.