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

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.24 and traded as high as $16.72. Seanergy Maritime shares last traded at $15.81, with a volume of 398,106 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Noble Financial reaffirmed an “outperform” rating on shares of Seanergy Maritime in a research report on Monday, February 9th. Wall Street Zen raised shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Friday, March 27th. B. Riley Financial upped their target price on shares of Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Zacks Research raised shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $17.00.

Seanergy Maritime Stock Performance

The firm has a market cap of $330.43 million, a P/E ratio of 15.81 and a beta of 0.94. The stock’s 50 day moving average is $13.83 and its two-hundred day moving average is $11.24. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.85 and a quick ratio of 0.83.

Seanergy Maritime Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 27th. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.13. This represents a $0.80 dividend on an annualized basis and a yield of 5.1%. Seanergy Maritime’s payout ratio is presently 80.00%.

Insiders Place Their Bets

In related news, insider Stavros Gyftakis sold 3,570 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.95, for a total value of $49,801.50. Following the sale, the insider owned 236,295 shares of the company’s stock, valued at $3,296,315.25. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seanergy Maritime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHIP. Russell Investments Group Ltd. acquired a new position in Seanergy Maritime in the fourth quarter valued at about $41,000. Allworth Financial LP acquired a new position in Seanergy Maritime in the third quarter valued at about $85,000. Truist Financial Corp acquired a new position in Seanergy Maritime in the fourth quarter valued at about $113,000. Susquehanna Fundamental Investments LLC acquired a new position in Seanergy Maritime in the fourth quarter valued at about $119,000. Finally, Jane Street Group LLC acquired a new position in Seanergy Maritime in the second quarter valued at about $124,000. 29.36% of the stock is currently owned by institutional investors and hedge funds.

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.