Seanergy Maritime (NASDAQ:SHIP) Shares Pass Above 200-Day Moving Average – Time to Sell?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.67 and traded as high as $11.10. Seanergy Maritime shares last traded at $10.80, with a volume of 283,906 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on SHIP shares. Zacks Research cut Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Seanergy Maritime from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Seanergy Maritime has a consensus rating of “Hold” and an average target price of $11.00.

Seanergy Maritime Trading Up 0.6%

The business’s 50-day moving average price is $9.82 and its 200 day moving average price is $8.69. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.39 and a quick ratio of 0.37. The firm has a market capitalization of $225.72 million, a price-to-earnings ratio of 14.79 and a beta of 0.67.

Seanergy Maritime Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 29th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, December 29th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.05. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.8%. Seanergy Maritime’s dividend payout ratio is presently 71.23%.

Institutional Trading of Seanergy Maritime

Several institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP bought a new stake in Seanergy Maritime in the third quarter valued at about $85,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Seanergy Maritime during the second quarter valued at approximately $90,000. WMG Financial Advisors LLC bought a new stake in Seanergy Maritime during the 2nd quarter valued at $109,000. R Squared Ltd bought a new stake in shares of Seanergy Maritime during the second quarter valued at about $122,000. Finally, Jane Street Group LLC bought a new stake in shares of Seanergy Maritime during the 2nd quarter worth about $124,000. 29.36% of the stock is owned by institutional investors and hedge funds.

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.