Maxim Group Issues Pessimistic Forecast for Seanergy Maritime (NASDAQ:SHIP) Stock Price

Seanergy Maritime (NASDAQ:SHIP) had its target price decreased by Maxim Group from $17.00 to $11.00 in a report released on Monday morning,Benzinga reports. Maxim Group currently has a buy rating on the shipping company’s stock.

Separately, StockNews.com downgraded shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 13th.

Seanergy Maritime Stock Up 0.3 %

Shares of SHIP stock opened at $6.71 on Monday. The company has a market capitalization of $138.90 million, a price-to-earnings ratio of 2.87 and a beta of 0.63. Seanergy Maritime has a one year low of $6.55 and a one year high of $13.19. The company’s fifty day moving average price is $7.14 and its 200-day moving average price is $9.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.52.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.54 by $0.07. The firm had revenue of $44.36 million for the quarter, compared to the consensus estimate of $42.10 million. Seanergy Maritime had a net margin of 28.37% and a return on equity of 19.01%. During the same period last year, the firm earned ($0.28) EPS. Sell-side analysts expect that Seanergy Maritime will post 2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Seanergy Maritime

Institutional investors have recently bought and sold shares of the stock. Quarry LP grew its stake in Seanergy Maritime by 77.9% during the third quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 1,321 shares in the last quarter. R Squared Ltd purchased a new position in Seanergy Maritime during the fourth quarter valued at $25,000. Trueblood Wealth Management LLC purchased a new position in Seanergy Maritime during the fourth quarter valued at $97,000. D.A. Davidson & CO. purchased a new position in Seanergy Maritime during the third quarter valued at $179,000. Finally, PDT Partners LLC purchased a new position in shares of Seanergy Maritime in the 3rd quarter worth $194,000. 29.36% of the stock is owned by hedge funds and other 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.