B. Riley Financial Boosts Seanergy Maritime (NASDAQ:SHIP) Price Target to $25.00

Seanergy Maritime (NASDAQ:SHIP) had its target price lifted by B. Riley Financial from $22.00 to $25.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. B. Riley Financial’s target price would suggest a potential upside of 44.68% from the stock’s previous close.

SHIP has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Seanergy Maritime in a research note on Wednesday, July 8th. Wall Street Zen raised Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Finally, Zacks Research downgraded Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Seanergy Maritime Trading Down 3.0%

NASDAQ:SHIP traded down $0.54 during trading hours on Friday, hitting $17.28. The stock had a trading volume of 119,627 shares, compared to its average volume of 240,993. The business’s 50 day moving average is $15.07 and its 200-day moving average is $13.77. 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 company has a market cap of $361.15 million, a price-to-earnings ratio of 9.66 and a beta of 0.94. Seanergy Maritime has a one year low of $6.70 and a one year high of $18.08.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.24. Seanergy Maritime had a net margin of 20.96% and a return on equity of 14.47%. The company had revenue of $42.85 million for the quarter, compared to analysts’ expectations of $42.15 million. Sell-side analysts anticipate that Seanergy Maritime will post 2.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Seanergy Maritime

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers boosted its position in Seanergy Maritime by 4.2% during the 1st quarter. Cetera Investment Advisers now owns 20,504 shares of the shipping company’s stock worth $265,000 after acquiring an additional 829 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock worth $150,000 after acquiring an additional 2,713 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Seanergy Maritime by 0.7% in the fourth 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 last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Seanergy Maritime in the fourth quarter valued at approximately $41,000. Finally, Bank of America Corp DE lifted its position in shares of 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 worth $2,065,000 after purchasing an additional 8,800 shares in the last quarter. 29.36% of the stock is currently 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.