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

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.79 and traded as high as $15.40. Seanergy Maritime shares last traded at $15.24, with a volume of 147,260 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SHIP shares. B. Riley Financial boosted their price target on Seanergy Maritime from $17.00 to $22.00 and gave the company a “buy” rating in a research report 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Friday, March 27th. Finally, Zacks Research downgraded Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Seanergy Maritime currently has an average rating of “Moderate Buy” and an average price target of $22.00.

Seanergy Maritime Stock Performance

The company has a market cap of $318.52 million, a PE ratio of 8.51 and a beta of 0.92. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 0.85. The stock’s 50-day simple moving average is $15.30 and its 200 day simple moving average is $12.79.

Seanergy Maritime (NASDAQ:SHIP) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.24. The firm had revenue of $42.85 million during the quarter, compared to analysts’ expectations of $42.15 million. Seanergy Maritime had a net margin of 20.96% and a return on equity of 14.47%. As a group, 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. Stockholders of record on Monday, June 29th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, June 29th. Seanergy Maritime’s dividend payout ratio is 44.69%.

Insider Activity at Seanergy Maritime

In other news, insider Stavros Gyftakis sold 3,570 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.95, for a total value of $49,801.50. Following the completion of the sale, the insider directly owned 236,295 shares of the company’s stock, valued at $3,296,315.25. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in Seanergy Maritime by 15.8% in the first quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company’s stock valued at $8,421,000 after acquiring an additional 88,800 shares during the period. Walleye Capital LLC grew 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 worth $2,718,000 after purchasing an additional 256,492 shares during the period. Millennium Management LLC grew 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 worth $2,706,000 after purchasing an additional 234,672 shares during the period. Bank of America Corp DE grew its stake in shares of Seanergy Maritime by 5.8% during the 1st quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock worth $2,065,000 after purchasing an additional 8,800 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Seanergy Maritime by 235.9% in the 4th quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company’s stock valued at $926,000 after purchasing an additional 70,481 shares in the last quarter. Institutional investors and hedge funds 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.