Seanergy Maritime (NASDAQ:SHIP) Stock Price Passes Above 200-Day Moving Average of $10.21

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.21 and traded as high as $11.80. Seanergy Maritime shares last traded at $11.64, with a volume of 253,003 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on SHIP. Noble Financial upgraded Seanergy Maritime to a “strong-buy” rating in a report on Tuesday, July 23rd. StockNews.com lowered Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 13th.

Seanergy Maritime Stock Performance

The firm has a 50-day moving average price of $10.33 and a 200 day moving average price of $10.21. The firm has a market capitalization of $228.56 million, a PE ratio of 14.55 and a beta of 0.64. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.72.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings data on Tuesday, August 6th. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.14. Seanergy Maritime had a return on equity of 12.42% and a net margin of 20.12%. The company had revenue of $43.13 million during the quarter, compared to analysts’ expectations of $40.69 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. Research analysts expect that Seanergy Maritime Holdings Corp. will post 2.1 earnings per share for the current year.

Seanergy Maritime Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.59%. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.03. Seanergy Maritime’s dividend payout ratio (DPR) is currently 125.00%.

Institutional Investors Weigh In On Seanergy Maritime

Institutional investors have recently bought and sold shares of the business. Jump Financial LLC acquired a new position in shares of Seanergy Maritime in the 4th quarter valued at about $225,000. Quadrature Capital Ltd acquired a new stake in shares of Seanergy Maritime in the fourth quarter worth $290,000. Acadian Asset Management LLC purchased a new position in Seanergy Maritime during the 1st quarter valued at about $300,000. ORG Partners LLC acquired a new position in Seanergy Maritime in the 2nd quarter valued at approximately $191,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Seanergy Maritime by 33.2% during the 2nd quarter. Renaissance Technologies LLC now owns 635,600 shares of the shipping company’s stock valued at $6,273,000 after buying an additional 158,400 shares during the period. 29.36% of the stock is currently owned by hedge funds and other institutional investors.

About Seanergy Maritime

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.