Seanergy Maritime (NASDAQ:SHIP) Lowered to “Hold” Rating by StockNews.com

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

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

Seanergy Maritime Stock Performance

Shares of Seanergy Maritime stock opened at $6.69 on Tuesday. The company has a market cap of $138.48 million, a PE ratio of 2.86 and a beta of 0.63. Seanergy Maritime has a 52 week low of $6.55 and a 52 week high of $13.19. The business has a 50 day moving average price of $7.17 and a 200-day moving average price of $9.19. 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:SHIP) last issued its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.54 by $0.07. The firm had revenue of $44.36 million during the quarter, compared to the consensus estimate of $42.10 million. Seanergy Maritime had a return on equity of 19.01% and a net margin of 28.37%. During the same period in the prior year, the business posted ($0.28) earnings per share. Equities analysts anticipate that Seanergy Maritime will post 2.01 earnings per share for the current fiscal year.

Institutional Trading of Seanergy Maritime

Institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its holdings in Seanergy Maritime by 193.6% during the second 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. Walleye Capital LLC grew its holdings in Seanergy Maritime by 8.4% during the third quarter. Walleye Capital LLC now owns 480,336 shares of the shipping company’s stock valued at $5,966,000 after purchasing an additional 37,288 shares during the period. MML Investors Services LLC bought a new position in Seanergy Maritime during the third quarter valued at $383,000. PDT Partners LLC bought a new position in Seanergy Maritime during the third quarter valued at $194,000. Finally, D.A. Davidson & CO. bought a new position in Seanergy Maritime during the third quarter valued at $179,000. 29.36% of the stock is 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.