StockNews.com Downgrades Seanergy Maritime (NASDAQ:SHIP) to Hold

Seanergy Maritime (NASDAQ:SHIP) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Maxim Group decreased their target price on Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Monday.

Seanergy Maritime Stock Up 1.1 %

Shares of NASDAQ:SHIP traded up $0.07 during trading on Tuesday, hitting $6.69. 273,730 shares of the company were exchanged, compared to its average volume of 236,097. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.52. The firm’s 50 day moving average price is $7.17 and its 200-day moving average price is $9.19. The stock has a market capitalization of $138.48 million, a P/E ratio of 2.86 and a beta of 0.63. Seanergy Maritime has a 12-month low of $6.55 and a 12-month high of $13.19.

Seanergy Maritime (NASDAQ:SHIP) last released its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.07. The company had revenue of $44.36 million during 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 quarter in the prior year, the firm posted ($0.28) earnings per share. On average, research analysts predict that Seanergy Maritime will post 2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Walleye Capital LLC boosted its stake in shares of Seanergy Maritime by 8.4% during the third quarter. Walleye Capital LLC now owns 480,336 shares of the shipping company’s stock worth $5,966,000 after buying an additional 37,288 shares during the period. Millennium Management LLC raised its stake in Seanergy Maritime by 193.6% during the 2nd quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock valued at $3,547,000 after acquiring an additional 236,941 shares during the last quarter. XTX Topco Ltd lifted its position in Seanergy Maritime by 3.7% during the 3rd quarter. XTX Topco Ltd now owns 40,332 shares of the shipping company’s stock worth $501,000 after acquiring an additional 1,447 shares during the period. MML Investors Services LLC purchased a new position in shares of Seanergy Maritime in the 3rd quarter valued at approximately $383,000. Finally, PDT Partners LLC acquired a new position in shares of Seanergy Maritime in the third quarter valued at approximately $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.