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

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 $9.71 and traded as high as $13.75. Seanergy Maritime shares last traded at $13.54, with a volume of 366,159 shares traded.

Analysts Set New Price Targets

Several research firms recently issued reports on SHIP. Noble Financial restated an “outperform” rating on shares of Seanergy Maritime in a research report on Monday, February 9th. B. Riley Financial lifted their price target on Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Wall Street Zen raised Seanergy Maritime from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.00.

Seanergy Maritime Stock Down 0.5%

The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.37 and a current ratio of 0.39. The stock has a 50-day moving average of $11.40 and a two-hundred day moving average of $9.78. The company has a market cap of $283.20 million, a P/E ratio of 13.55 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. Investors of record on Friday, March 27th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Friday, March 27th. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.13. Seanergy Maritime’s dividend payout ratio is 52.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Walleye Capital LLC increased its holdings in shares of Seanergy Maritime by 674.4% in the fourth quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company’s stock worth $2,718,000 after buying an additional 256,492 shares during the period. Millennium Management LLC boosted its holdings in 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 acquiring an additional 234,672 shares during the period. Arrowstreet Capital Limited Partnership boosted 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 valued at $546,000 after acquiring an additional 72,423 shares during the period. Jane Street Group LLC increased its stake in Seanergy Maritime by 235.9% in 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 during the period. Finally, Triumph Capital Management bought a new stake in Seanergy Maritime in the third quarter valued at approximately $355,000. 29.36% of the stock is owned by institutional investors.

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.