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

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SHIP shares. Zacks Research lowered Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. B. Riley Financial lifted their price objective on Seanergy Maritime from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a report on Friday, March 27th. Finally, Wall Street Zen raised Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Seanergy Maritime presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Seanergy Maritime Price Performance

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 firm has a market cap of $318.10 million, a P/E ratio of 8.50 and a beta of 0.92. The company has a 50-day moving average of $15.23 and a 200 day moving average of $12.67.

Seanergy Maritime (NASDAQ:SHIP) last posted its earnings results on Thursday, May 28th. The shipping company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.39 by $0.24. The business had revenue of $42.85 million during the quarter, compared to the consensus estimate 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 anticipate that Seanergy Maritime Holdings Corp will post 2.7 EPS for the current year.

Seanergy Maritime Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 29th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Monday, June 29th. Seanergy Maritime’s dividend payout ratio (DPR) is 44.69%.

Insider Activity at Seanergy Maritime

In related 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 transaction of $49,801.50. Following the completion of the transaction, the insider owned 236,295 shares in the company, 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 the SEC website. 4.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Seanergy Maritime

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in Seanergy Maritime in the 4th quarter valued at $41,000. Allworth Financial LP bought a new position in Seanergy Maritime in the 3rd quarter valued at $85,000. Truist Financial Corp bought a new position in Seanergy Maritime in the 4th quarter valued at $113,000. Susquehanna Fundamental Investments LLC bought a new position in Seanergy Maritime in the 4th quarter valued at $119,000. Finally, Virtu Financial LLC bought a new position in Seanergy Maritime in the 3rd quarter valued at $134,000. 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.