Seanergy Maritime (NASDAQ:SHIP) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Seanergy Maritime (NASDAQ:SHIP) from a "buy" to a "strong-buy" rating in a research note issued Saturday.
• Analyst coverage is mixed but leans bullish — one analyst now rates Strong Buy, two rate Buy and one rates Hold, with a consensus price target of $17 and recent positive moves from Zacks and B. Riley (target raised to $17).
• Shares opened at $14 with a market cap of $292.6M, a P/E of 14 and a 1-year range of $4.78–$14.93, while institutional ownership sits at 29.36% after several funds (Renaissance, Walleye, Millennium, Jane Street) increased positions.

Seanergy Maritime (NASDAQ:SHIP - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

SHIP has been the topic of several other reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Seanergy Maritime in a report on Friday, March 27th. Noble Financial restated an "outperform" rating on shares of Seanergy Maritime in a report on Monday, February 9th. Zacks Research raised Seanergy Maritime from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 11th. Finally, B. Riley Financial increased their target price on Seanergy Maritime from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Seanergy Maritime currently has an average rating of "Buy" and a consensus price target of $17.00.

Seanergy Maritime Price Performance

Seanergy Maritime stock opened at $14.00 on Friday. The firm has a market capitalization of $292.60 million, a P/E ratio of 14.00 and a beta of 0.89. Seanergy Maritime has a 1-year low of $4.78 and a 1-year high of $14.93. The company's 50-day moving average is $12.52 and its 200 day moving average is $10.31.

Institutional Trading of Seanergy Maritime

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in shares of Seanergy Maritime by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company's stock valued at $5,201,000 after purchasing an additional 3,800 shares during the period. Walleye Capital LLC increased its holdings in Seanergy Maritime by 674.4% during the 4th quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company's stock worth $2,718,000 after purchasing an additional 256,492 shares during the period. Millennium Management LLC raised its position in Seanergy Maritime by 400.8% during the 4th quarter. Millennium Management LLC now owns 293,220 shares of the shipping company's stock valued at $2,706,000 after purchasing an additional 234,672 shares in the last quarter. Jane Street Group LLC raised its position in Seanergy Maritime by 235.9% during the 4th quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company's stock valued at $926,000 after purchasing an additional 70,481 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Seanergy Maritime by 512.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company's stock worth $546,000 after buying an additional 72,423 shares during the period. Institutional investors own 29.36% of the company's stock.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. NASDAQ: SHIP is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company's operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.

The company's core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.