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

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) shares 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 trading hands.

Analysts Set New Price Targets

SHIP has been the topic of a number of analyst reports. Zacks Research cut shares of Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. Weiss Ratings restated a “hold (c)” rating on shares of Seanergy Maritime in a research report on Wednesday, July 8th. B. Riley Financial raised their price target 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. Finally, Wall Street Zen raised Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Seanergy Maritime Stock Up 0.3%

The company has a market cap of $319.14 million, a price-to-earnings ratio of 8.53 and a beta of 0.94. The stock has a 50-day simple moving average of $15.00 and a 200-day simple moving average of $13.44. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts predict that Seanergy Maritime Holdings Corp will post 2.7 EPS for the current year.

Seanergy Maritime Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were given 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 was Monday, June 29th. Seanergy Maritime’s payout ratio is 44.69%.

Institutional Trading of Seanergy Maritime

Institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its position in Seanergy Maritime by 4.2% in 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 during the period. BNP Paribas Financial Markets boosted its stake in Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock valued at $150,000 after purchasing an additional 2,713 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Seanergy Maritime by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company’s stock valued at $5,201,000 after purchasing an additional 3,800 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Seanergy Maritime during the 4th quarter valued at $41,000. Finally, Bank of America Corp DE raised its stake in shares of Seanergy Maritime by 5.8% in the 1st quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock worth $2,065,000 after buying an additional 8,800 shares in the last quarter. 29.36% of the stock is owned by institutional investors and hedge funds.

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.