Seanergy Maritime (NASDAQ:SHIP) Stock Bumped Down to Hold by Zacks Research

Seanergy Maritime (NASDAQ:SHIP) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

Other analysts have also recently issued reports about the company. B. Riley Financial boosted their price objective on Seanergy Maritime from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Seanergy Maritime from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Seanergy Maritime currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Seanergy Maritime Stock Down 0.1%

SHIP stock opened at $16.41 on Tuesday. Seanergy Maritime has a twelve month low of $7.66 and a twelve month high of $19.22. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.94. The company has a market cap of $343.00 million, a PE ratio of 5.74 and a beta of 0.89. The business’s 50-day simple moving average is $17.42 and its 200 day simple moving average is $15.57.

Seanergy Maritime (NASDAQ:SHIP) last posted its quarterly earnings results on Thursday, July 30th. The shipping company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. Seanergy Maritime had a return on equity of 21.87% and a net margin of 30.68%.The firm had revenue of $55.69 million during the quarter, compared to analysts’ expectations of $53.90 million. On average, research analysts anticipate that Seanergy Maritime will post 3.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Christina Anagnostara sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $17.19, for a total value of $257,850.00. Following the sale, the director directly owned 178,239 shares in the company, valued at approximately $3,063,928.41. This represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.70% of the company’s stock.

Institutional Trading of Seanergy Maritime

Several institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers grew 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 valued at $265,000 after acquiring an additional 829 shares during the period. NewEdge Advisors LLC acquired a new position in Seanergy Maritime during the second quarter worth $289,000. Navellier & Associates Inc. acquired a new position in Seanergy Maritime during the second quarter worth $355,000. R Squared Ltd lifted its holdings in shares of Seanergy Maritime by 59.3% during the first quarter. R Squared Ltd now owns 29,062 shares of the shipping company’s stock valued at $375,000 after acquiring an additional 10,816 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Seanergy Maritime by 26.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 82,557 shares of the shipping company’s stock valued at $1,066,000 after acquiring an additional 17,274 shares during the period. Institutional investors and hedge funds own 29.36% of the company’s stock.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. is an international dry bulk shipping company listed on the Nasdaq Capital Market under the symbol SHIP. The company owns and operates oceangoing vessels that transport major dry bulk commodities for industrial and commercial customers worldwide.

Seanergy’s fleet is focused primarily on Capesize and Newcastlemax vessels, which are among the largest dry bulk ships and are commonly used to carry iron ore, coal, and grain. The company generates revenue by chartering its vessels to customers and shipping counterparties under various types of charter arrangements.

Founded in 2008, Seanergy is headquartered in Athens, Greece, and serves global trade routes connecting major commodity-exporting and importing regions.