Seanergy Maritime (NASDAQ:SHIP) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.60 and traded as high as $16.86. Seanergy Maritime shares last traded at $16.31, with a volume of 244,123 shares.

Analysts Set New Price Targets

SHIP has been the topic of a number of analyst reports. Zacks Research cut Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. B. Riley Financial lifted their price target on Seanergy Maritime from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Wall Street Zen raised Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Seanergy Maritime Price Performance

The stock has a 50 day moving average of $15.17 and a two-hundred day moving average of $12.60. The stock has a market cap of $340.88 million, a PE ratio of 9.11 and a beta of 0.93. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 0.85.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.24. The firm had revenue of $42.85 million for the quarter, compared to analysts’ expectations of $42.15 million. Seanergy Maritime had a return on equity of 14.47% and a net margin of 20.96%. Equities analysts anticipate that Seanergy Maritime Holdings Corp will post 2.7 EPS for the current year.

Seanergy Maritime Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, June 29th. Seanergy Maritime’s payout ratio is 44.69%.

Insiders Place Their Bets

In other Seanergy Maritime news, insider Stavros Gyftakis sold 3,570 shares of Seanergy Maritime stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.95, for a total transaction of $49,801.50. Following the transaction, the insider owned 236,295 shares of the company’s stock, valued at $3,296,315.25. The trade was a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seanergy Maritime

Several institutional investors and hedge funds have recently bought and sold shares of SHIP. Russell Investments Group Ltd. purchased a new position in Seanergy Maritime during the 4th quarter valued at about $41,000. Allworth Financial LP purchased a new position in Seanergy Maritime during the 3rd quarter valued at about $85,000. Truist Financial Corp purchased a new position in Seanergy Maritime during the 4th quarter valued at about $113,000. Susquehanna Fundamental Investments LLC purchased a new position in Seanergy Maritime during the 4th quarter valued at about $119,000. Finally, Jane Street Group LLC purchased a new position in Seanergy Maritime during the 2nd quarter valued at about $124,000. 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.