Seanergy Maritime (NASDAQ:SHIP) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Seanergy Maritime (SHIP) shares recently crossed above their 200-day moving average, trading as high as $13.75 and last at $13.54 versus a 200-day MA of $9.71.
• Analysts have grown more positive — MarketBeat shows an average rating of Buy with an average target of $17.00, and recent upgrades from B. Riley, Zacks Research and others.
• The company raised its quarterly dividend to $0.20 (annualized $0.80) for a ~5.9% yield, while financials show low liquidity (current ratio 0.39) and a debt-to-equity of 1.03 with a market cap around $283M.

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.71 and traded as high as $13.75. Seanergy Maritime shares last traded at $13.54, with a volume of 366,159 shares traded.

Analyst Ratings Changes

A number of research analysts have commented on SHIP shares. B. Riley Financial increased their price objective on Seanergy Maritime from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, February 18th. Noble Financial restated an "outperform" rating on shares of Seanergy Maritime in a research report on Monday, February 9th. Zacks Research raised Seanergy Maritime from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 11th. Wall Street Zen upgraded Seanergy Maritime from a "hold" rating to a "buy" rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Seanergy Maritime in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Seanergy Maritime presently has an average rating of "Buy" and an average target price of $17.00.

Seanergy Maritime Trading Up 2.0%

The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $282.99 million, a P/E ratio of 13.54 and a beta of 0.82. The business has a 50 day moving average of $11.23 and a 200-day moving average of $9.71.

Seanergy Maritime Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be given a dividend of $0.20 per share. This is a positive change from Seanergy Maritime's previous quarterly dividend of $0.13. This represents a $0.80 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, March 27th. Seanergy Maritime's payout ratio is currently 52.00%.

Institutional Investors Weigh In On Seanergy Maritime

Several institutional investors have recently added to or reduced their stakes in SHIP. Campbell & CO Investment Adviser LLC bought a new position in Seanergy Maritime during the 2nd quarter worth about $90,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Seanergy Maritime by 512.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company's stock valued at $546,000 after purchasing an additional 72,423 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Seanergy Maritime during the second quarter worth about $124,000. BNP Paribas Financial Markets boosted its position in shares of Seanergy Maritime by 12.9% during the second quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company's stock worth $150,000 after buying an additional 2,713 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Seanergy Maritime by 56.2% during the third quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company's stock worth $367,000 after buying an additional 15,991 shares in the last quarter. 29.36% of the stock is owned by institutional investors.

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.

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