Seanergy Maritime (NASDAQ:SHIP) Upgraded at StockNews.com

Seanergy Maritime (NASDAQ:SHIP - Get Free Report) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Monday.

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

Seanergy Maritime Trading Down 1.3 %

Shares of Seanergy Maritime stock traded down $0.13 during trading on Monday, hitting $9.62. The stock had a trading volume of 209,537 shares, compared to its average volume of 245,831. The stock has a market cap of $188.90 million, a PE ratio of 12.03 and a beta of 0.65. Seanergy Maritime has a 12 month low of $4.87 and a 12 month high of $13.19. The firm's fifty day simple moving average is $10.96 and its 200-day simple moving average is $10.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.55 and a quick ratio of 0.52.

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

Institutional Trading of Seanergy Maritime

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in Seanergy Maritime by 33.2% during the 2nd quarter. Renaissance Technologies LLC now owns 635,600 shares of the shipping company's stock valued at $6,273,000 after purchasing an additional 158,400 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Seanergy Maritime by 1,009.6% in the second quarter. Acadian Asset Management LLC now owns 384,373 shares of the shipping company's stock valued at $3,782,000 after acquiring an additional 349,733 shares in the last quarter. Millennium Management LLC grew its holdings in Seanergy Maritime by 193.6% during the 2nd quarter. Millennium Management LLC now owns 359,347 shares of the shipping company's stock worth $3,547,000 after acquiring an additional 236,941 shares in the last quarter. Marshall Wace LLP increased its position in Seanergy Maritime by 316.2% during the 2nd quarter. Marshall Wace LLP now owns 213,503 shares of the shipping company's stock valued at $2,107,000 after purchasing an additional 162,201 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Seanergy Maritime by 217.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 126,976 shares of the shipping company's stock valued at $1,253,000 after purchasing an additional 87,028 shares in the last quarter. Hedge funds and other institutional investors own 29.36% of the company's stock.

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.

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