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

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

Separately, Noble Financial raised Seanergy Maritime to a “strong-buy” rating in a research note on Tuesday, July 23rd.

Seanergy Maritime Trading Up 5.6 %

Shares of SHIP stock opened at $9.80 on Tuesday. Seanergy Maritime has a 1-year low of $4.87 and a 1-year high of $13.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.55 and a quick ratio of 0.52. The business’s fifty day moving average price is $10.79 and its 200 day moving average price is $10.64. The firm has a market capitalization of $202.85 million, a PE ratio of 6.76 and a beta of 0.65.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings results on Tuesday, August 6th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.14. Seanergy Maritime had a net margin of 20.12% and a return on equity of 12.42%. The business had revenue of $43.13 million during the quarter, compared to the consensus estimate of $40.69 million. During the same quarter last year, the firm posted $0.05 EPS. As a group, sell-side analysts forecast that Seanergy Maritime will post 2.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Seanergy Maritime

Several institutional investors and hedge funds have recently made changes to their positions in SHIP. ORG Partners LLC acquired a new position in Seanergy Maritime during the second quarter worth about $191,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Seanergy Maritime during the 2nd quarter worth approximately $213,000. Acadian Asset Management LLC acquired a new position in shares of Seanergy Maritime during the 1st quarter worth approximately $300,000. XTX Topco Ltd lifted its stake in Seanergy Maritime by 99.6% in the 2nd quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock valued at $384,000 after buying an additional 19,401 shares in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in Seanergy Maritime by 82.0% during the 1st quarter. Quadrature Capital Ltd now owns 67,427 shares of the shipping company’s stock valued at $586,000 after buying an additional 30,381 shares during the last quarter. 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.