Seanergy Maritime (NASDAQ:SHIP) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Seanergy Maritime (NASDAQ:SHIP) from a buy rating to a hold rating in a report issued on Tuesday morning.

Separately, Maxim Group cut their price target on Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating for the company in a report on Monday.

Seanergy Maritime Price Performance

Seanergy Maritime stock opened at $6.69 on Tuesday. Seanergy Maritime has a one year low of $6.55 and a one year high of $13.19. The business has a fifty day moving average price of $7.17 and a 200-day moving average price of $9.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.52. The firm has a market capitalization of $138.48 million, a P/E ratio of 2.86 and a beta of 0.63.

Seanergy Maritime (NASDAQ:SHIP) last posted its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. Seanergy Maritime had a return on equity of 19.01% and a net margin of 28.37%. The firm had revenue of $44.36 million during the quarter, compared to analyst estimates of $42.10 million. During the same period last year, the company earned ($0.28) earnings per share. As a group, equities research analysts forecast that Seanergy Maritime will post 2.01 EPS for the current year.

Institutional Investors Weigh In On Seanergy Maritime

Several large investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in Seanergy Maritime during the fourth quarter valued at $25,000. Trueblood Wealth Management LLC bought a new stake in Seanergy Maritime during the fourth quarter valued at $97,000. MML Investors Services LLC bought a new stake in Seanergy Maritime during the third quarter valued at $383,000. XTX Topco Ltd boosted its stake in Seanergy Maritime by 3.7% during the third quarter. XTX Topco Ltd now owns 40,332 shares of the shipping company’s stock valued at $501,000 after buying an additional 1,447 shares during the period. Finally, Quarry LP raised its position in Seanergy Maritime by 77.9% during the third quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 1,321 shares in the last quarter. Institutional investors own 29.36% of the company’s stock.

About Seanergy Maritime

Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.