Seanergy Maritime (NASDAQ:SHIP) Stock Passes Above 200-Day Moving Average – Should You Sell?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.39 and traded as high as $14.76. Seanergy Maritime shares last traded at $14.41, with a volume of 183,229 shares changing hands.

Wall Street Analysts Forecast Growth

SHIP has been the subject of several recent research reports. Zacks Research lowered shares of Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. B. Riley Financial increased their price objective on shares of Seanergy Maritime from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Seanergy Maritime in a report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.00.

Seanergy Maritime Stock Performance

The business has a 50-day moving average of $15.02 and a two-hundred day moving average of $13.39. The company has a market cap of $301.17 million, a P/E ratio of 8.05 and a beta of 0.94. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.85 and a quick ratio of 0.83.

Seanergy Maritime (NASDAQ:SHIP) last posted its earnings results on Thursday, May 28th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.24. The company had revenue of $42.85 million for the quarter, compared to analyst estimates of $42.15 million. Seanergy Maritime had a return on equity of 14.47% and a net margin of 20.96%. On average, sell-side analysts predict that Seanergy Maritime Holdings Corp will post 2.7 EPS for the current fiscal year.

Seanergy Maritime Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.6%. Seanergy Maritime’s payout ratio is presently 44.69%.

Institutional Investors Weigh In On Seanergy Maritime

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Seanergy Maritime by 5.8% in the first quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock valued at $2,065,000 after acquiring an additional 8,800 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Seanergy Maritime by 15.8% during the first quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company’s stock worth $8,421,000 after purchasing an additional 88,800 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Seanergy Maritime by 26.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 82,557 shares of the shipping company’s stock worth $1,066,000 after purchasing an additional 17,274 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Seanergy Maritime by 4.2% during the first quarter. Cetera Investment Advisers now owns 20,504 shares of the shipping company’s stock worth $265,000 after purchasing an additional 829 shares in the last quarter. Finally, R Squared Ltd lifted its holdings in shares of Seanergy Maritime by 59.3% during the 1st quarter. R Squared Ltd now owns 29,062 shares of the shipping company’s stock valued at $375,000 after purchasing an additional 10,816 shares during the last quarter. Hedge funds and other 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.