Seanergy Maritime (NASDAQ:SHIP) Rating Lowered to “Buy” at StockNews.com

Seanergy Maritime (NASDAQ:SHIP) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Separately, Noble Financial upgraded shares of Seanergy Maritime to a “strong-buy” rating in a research report on Tuesday, July 23rd.

Seanergy Maritime Trading Down 3.9 %

Shares of SHIP stock opened at $9.42 on Tuesday. Seanergy Maritime has a 1 year low of $4.87 and a 1 year high of $13.19. The firm has a fifty day moving average price of $10.75 and a 200-day moving average price of $10.63. The company has a market cap of $194.99 million, a price-to-earnings ratio of 6.50 and a beta of 0.65. 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) last issued its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. Seanergy Maritime had a return on equity of 12.42% and a net margin of 20.12%. The business had revenue of $44.36 million during the quarter, compared to analysts’ expectations of $42.10 million. During the same quarter in the prior year, the business posted ($0.28) earnings per share. As a group, equities analysts predict that Seanergy Maritime will post 2.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC bought a new position in shares of Seanergy Maritime during the second quarter worth $191,000. XTX Topco Ltd boosted its holdings in shares of Seanergy Maritime by 99.6% during the 2nd quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock valued at $384,000 after purchasing an additional 19,401 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Seanergy Maritime during the second quarter valued at about $213,000. Quadrature Capital Ltd increased its holdings in shares of Seanergy Maritime by 82.0% in 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. Finally, Acadian Asset Management LLC purchased a new stake in shares of Seanergy Maritime in the first quarter worth about $300,000. 29.36% of the stock is currently owned by institutional investors.

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.