Seanergy Maritime (NASDAQ:SHIP) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Seanergy Maritime (NASDAQ:SHIP) from a buy rating to a hold rating in a research note released on Tuesday.

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

Seanergy Maritime Trading Down 0.9 %

NASDAQ:SHIP opened at $6.65 on Tuesday. Seanergy Maritime has a 52 week low of $6.55 and a 52 week high of $13.19. The firm has a 50-day moving average price of $7.11 and a two-hundred day moving average price of $9.16. The firm has a market cap of $137.65 million, a price-to-earnings ratio of 2.84 and a beta of 0.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 1.99.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of Seanergy Maritime by 193.6% in the 2nd quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock valued at $3,547,000 after purchasing an additional 236,941 shares during the period. D.A. Davidson & CO. purchased a new position in Seanergy Maritime during the third quarter valued at $179,000. Walleye Capital LLC boosted its holdings in shares of Seanergy Maritime by 8.4% during the 3rd quarter. Walleye Capital LLC now owns 480,336 shares of the shipping company’s stock valued at $5,966,000 after buying an additional 37,288 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of Seanergy Maritime in the 3rd quarter worth about $194,000. Finally, Quarry LP increased its stake in shares of Seanergy Maritime by 77.9% in the 3rd quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock worth $37,000 after acquiring an additional 1,321 shares in the last quarter. 29.36% of the stock is owned by hedge funds and other institutional investors.

Seanergy Maritime Company Profile

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.