Seanergy Maritime (NASDAQ:SHIP) Downgraded by StockNews.com to Hold

Seanergy Maritime (NASDAQ:SHIPGet Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Separately, Maxim Group dropped their price objective on Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Monday.

Get Our Latest Research Report on SHIP

Seanergy Maritime Trading Up 1.1 %

SHIP stock traded up $0.07 during mid-day trading on Tuesday, hitting $6.69. 273,730 shares of the company were exchanged, compared to its average volume of 236,097. The business has a fifty day simple moving average of $7.17 and a 200-day simple moving average of $9.19. The firm has a market capitalization of $138.48 million, a P/E ratio of 2.86 and a beta of 0.63. Seanergy Maritime has a 12-month low of $6.55 and a 12-month high of $13.19. The company has a quick ratio of 0.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

Seanergy Maritime (NASDAQ:SHIPGet Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. The firm had revenue of $44.36 million during the quarter, compared to analysts’ expectations 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 last year, the company posted ($0.28) EPS. On average, equities research analysts predict that Seanergy Maritime will post 2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seanergy Maritime

Large investors have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in Seanergy Maritime in the 4th quarter valued at approximately $25,000. Trueblood Wealth Management LLC acquired a new stake in shares of Seanergy Maritime in the fourth quarter valued at $97,000. MML Investors Services LLC purchased a new position in Seanergy Maritime in the third quarter valued at $383,000. XTX Topco Ltd grew its stake in Seanergy Maritime by 3.7% during the 3rd quarter. XTX Topco Ltd now owns 40,332 shares of the shipping company’s stock worth $501,000 after purchasing an additional 1,447 shares in the last quarter. Finally, Quarry LP increased its holdings in Seanergy Maritime by 77.9% during the 3rd quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock worth $37,000 after purchasing an additional 1,321 shares during the period. 29.36% of the stock is owned by hedge funds and other 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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