Seanergy Maritime (NASDAQ:SHIP) Rating Increased to Strong-Buy at Noble Financial

Seanergy Maritime (NASDAQ:SHIP) was upgraded by equities research analysts at Noble Financial to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. B. Riley boosted their target price on shares of Seanergy Maritime from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th.

Seanergy Maritime Stock Down 1.8 %

SHIP stock opened at $9.45 on Tuesday. The firm’s fifty day simple moving average is $10.97 and its 200-day simple moving average is $9.34. The company has a market capitalization of $195.62 million, a P/E ratio of 11.81 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.36 and a quick ratio of 0.34. Seanergy Maritime has a 12 month low of $4.87 and a 12 month high of $13.19.

Seanergy Maritime (NASDAQ:SHIP) last released its quarterly earnings data on Wednesday, May 15th. The shipping company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.28 by $0.22. The business had revenue of $38.29 million for the quarter, compared to the consensus estimate of $34.00 million. Seanergy Maritime had a net margin of 12.06% and a return on equity of 7.06%. As a group, equities research analysts forecast that Seanergy Maritime will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Seanergy Maritime

Large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its position in shares of Seanergy Maritime by 313.4% in the fourth quarter. Mackenzie Financial Corp now owns 197,129 shares of the shipping company’s stock valued at $1,544,000 after buying an additional 149,439 shares during the last quarter. Quadrature Capital Ltd increased its position in Seanergy Maritime by 82.0% during the first quarter. Quadrature Capital Ltd now owns 67,427 shares of the shipping company’s stock worth $586,000 after purchasing an additional 30,381 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Seanergy Maritime during the first quarter worth about $300,000. Jump Financial LLC acquired a new stake in Seanergy Maritime during the fourth quarter worth about $225,000. Finally, ORG Partners LLC acquired a new stake in Seanergy Maritime during the second quarter worth about $191,000. 29.36% of the stock is currently owned by institutional investors and hedge funds.

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.