Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Sees Significant Decrease in Short Interest

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) was the recipient of a large drop in short interest in February. As of February 15th, there was short interest totalling 284,900 shares, a drop of 33.6% from the January 31st total of 429,100 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily volume of 261,900 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SHIP shares. Maxim Group lowered their price objective on shares of Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. StockNews.com downgraded Seanergy Maritime from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th.

Seanergy Maritime Stock Performance

Shares of SHIP stock traded down $0.08 during trading hours on Tuesday, reaching $6.85. 115,504 shares of the company’s stock were exchanged, compared to its average volume of 265,454. Seanergy Maritime has a fifty-two week low of $6.55 and a fifty-two week 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. The stock has a market capitalization of $141.68 million, a P/E ratio of 2.92 and a beta of 0.45. The business has a fifty day moving average price of $6.97 and a 200-day moving average price of $8.82.

Institutional Trading of Seanergy Maritime

Several hedge funds and other institutional investors have recently bought and sold shares of SHIP. R Squared Ltd bought a new stake in shares of Seanergy Maritime in the 4th quarter worth approximately $25,000. Quarry LP lifted its position in shares of Seanergy Maritime by 77.9% during the third quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock worth $37,000 after purchasing an additional 1,321 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Seanergy Maritime during the fourth quarter valued at approximately $70,000. Boothbay Fund Management LLC acquired a new stake in shares of Seanergy Maritime in the fourth quarter valued at approximately $76,000. Finally, Aigen Investment Management LP bought a new position in Seanergy Maritime in the 4th quarter worth approximately $84,000. 29.36% of the stock is currently owned by institutional investors and hedge funds.

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.