Seanergy Maritime (NASDAQ:SHIP) Stock Breaks Above 200-Day Moving Average – Time to Sell?

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $15.12 and traded as high as $15.69. Seanergy Maritime shares last traded at $15.42, with a volume of 314,190 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. B. Riley Financial upped their target price on shares of Seanergy Maritime from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Seanergy Maritime in a research report on Wednesday, November 4th. Finally, Zacks Research lowered Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Seanergy Maritime currently has an average rating of “Moderate Buy” and an average target price of $25.00.

Seanergy Maritime Stock Performance

The firm’s 50-day moving average is $16.74 and its 200 day moving average is $15.12. The firm has a market capitalization of $322.28 million, a PE ratio of 5.39 and a beta of 1.15.

Insiders Place Their Bets

In other Seanergy Maritime news, insider Stavros Gyftakis sold 2,835 shares of Seanergy Maritime stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $17.52, for a total transaction of $49,669.20. Following the completion of the transaction, the insider owned 230,340 shares in the company, valued at approximately $4,035,556.80. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vision Financial Markets LLC purchased a new position in shares of Seanergy Maritime during the 3rd quarter worth approximately $28,000. State of Wyoming purchased a new stake in Seanergy Maritime in the 3rd quarter valued at approximately $84,000. HighTower Advisors LLC purchased a new stake in Seanergy Maritime in the 3rd quarter valued at approximately $258,000. Cetera Investment Advisers lifted its stake in Seanergy Maritime by 4.2% in the 1st quarter. Cetera Investment Advisers now owns 20,504 shares of the shipping company’s stock valued at $265,000 after buying an additional 829 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Seanergy Maritime during the 2nd quarter valued at $289,000. 29.36% of the stock is owned by hedge funds and other institutional investors.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. is an international shipping company focused on the seaborne transportation of dry bulk commodities. It owns and operates a fleet of dry bulk vessels, primarily Capesize ships designed to carry large cargoes over long distances. The company’s vessels transport commodities such as iron ore, coal and grain for customers involved in global trade. Seanergy serves international shipping routes connecting commodity producers with markets around the world. Seanergy is incorporated in the Marshall Islands and has its executive offices in Athens, Greece.