Seanergy Maritime (NASDAQ:SHIP) Price Target Cut to $11.00 by Analysts at Maxim Group

Seanergy Maritime (NASDAQ:SHIPGet Free Report) had its target price cut by equities researchers at Maxim Group from $17.00 to $11.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Maxim Group’s price target would indicate a potential upside of 64.42% from the stock’s current price.

Separately, StockNews.com cut shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 13th.

Get Our Latest Analysis on SHIP

Seanergy Maritime Trading Up 1.1 %

Shares of SHIP stock opened at $6.69 on Monday. Seanergy Maritime has a fifty-two week low of $6.55 and a fifty-two week high of $13.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 1.99. The stock has a 50 day simple moving average of $7.17 and a two-hundred day simple moving average of $9.19. The company has a market cap of $138.48 million, a P/E ratio of 2.86 and a beta of 0.63.

Seanergy Maritime (NASDAQ:SHIPGet Free Report) last released its earnings results on Tuesday, November 5th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. The company had revenue of $44.36 million for the quarter, compared to the consensus estimate of $42.10 million. Seanergy Maritime had a net margin of 28.37% and a return on equity of 19.01%. During the same quarter in the previous year, the company earned ($0.28) EPS. Research analysts forecast that Seanergy Maritime will post 2.01 earnings per share for the current year.

Institutional Investors Weigh In On Seanergy Maritime

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new position in Seanergy Maritime during the 4th quarter valued at about $25,000. Quarry LP raised its position in Seanergy Maritime by 77.9% in the 3rd quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock valued at $37,000 after buying an additional 1,321 shares during the last quarter. Trueblood Wealth Management LLC bought a new position in Seanergy Maritime during the 4th quarter valued at $97,000. D.A. Davidson & CO. purchased a new position in Seanergy Maritime during the 3rd quarter worth $179,000. Finally, PDT Partners LLC bought a new stake in shares of Seanergy Maritime in the 3rd quarter worth $194,000. 29.36% of the stock is owned by institutional investors.

About Seanergy Maritime

(Get Free Report)

Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.

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