Seanergy Maritime (NASDAQ:SHIP - Get Free Report) had its price target reduced by stock analysts at Maxim Group from $17.00 to $11.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the shipping company's stock. Maxim Group's price objective points to a potential upside of 65.41% from the stock's previous close.
Separately, StockNews.com lowered Seanergy Maritime from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 13th.
View Our Latest Stock Analysis on SHIP
Seanergy Maritime Price Performance
SHIP traded down $0.06 on Monday, reaching $6.65. The company had a trading volume of 131,422 shares, compared to its average volume of 226,851. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 1.99. Seanergy Maritime has a 52-week low of $6.55 and a 52-week high of $13.19. The company has a market cap of $137.66 million, a price-to-earnings ratio of 2.84 and a beta of 0.63. The business has a 50 day simple moving average of $7.11 and a 200 day simple moving average of $9.16.
Seanergy Maritime (NASDAQ:SHIP - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.07. Seanergy Maritime had a net margin of 28.37% and a return on equity of 19.01%. The firm had revenue of $44.36 million for the quarter, compared to analysts' expectations of $42.10 million. During the same quarter last year, the company posted ($0.28) EPS. As a group, sell-side analysts anticipate that Seanergy Maritime will post 2.01 EPS for the current year.
Hedge Funds Weigh In On Seanergy Maritime
Institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Seanergy Maritime in the fourth quarter worth $25,000. Quarry LP increased its holdings in shares of Seanergy Maritime by 77.9% in the third quarter. Quarry LP now owns 3,017 shares of the shipping company's stock worth $37,000 after buying an additional 1,321 shares during the period. Aigen Investment Management LP bought a new stake in shares of Seanergy Maritime in the 4th quarter valued at about $84,000. Trueblood Wealth Management LLC purchased a new stake in Seanergy Maritime during the 4th quarter valued at about $97,000. Finally, D.A. Davidson & CO. bought a new position in Seanergy Maritime during the 3rd quarter worth approximately $179,000. Institutional investors own 29.36% of the company's stock.
About Seanergy Maritime
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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.
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