Seanergy Maritime (NASDAQ:SHIP) Shares Cross Above 200 Day Moving Average – Should You Sell?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.58 and traded as high as $16.59. Seanergy Maritime shares last traded at $16.03, with a volume of 207,636 shares.

Analysts Set New Price Targets

SHIP has been the subject of a number of research reports. B. Riley Financial raised their target price on shares of Seanergy Maritime from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Noble Financial restated an “outperform” rating on shares of Seanergy Maritime in a report on Monday, February 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Seanergy Maritime in a report on Friday, March 27th. Wall Street Zen upgraded shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Finally, Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $17.00.

Seanergy Maritime Stock Down 1.1%

The business’s 50 day moving average is $14.08 and its 200 day moving average is $11.61. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 0.85. The stock has a market cap of $331.47 million, a price-to-earnings ratio of 15.86 and a beta of 0.94.

Insider Buying and Selling

In related news, insider Stavros Gyftakis sold 3,570 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $13.95, for a total value of $49,801.50. Following the completion of the transaction, the insider owned 236,295 shares of the company’s stock, valued at approximately $3,296,315.25. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Seanergy Maritime

A number of institutional investors have recently modified their holdings of SHIP. Walleye Capital LLC boosted its stake in shares of Seanergy Maritime by 674.4% during the 4th quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company’s stock valued at $2,718,000 after buying an additional 256,492 shares during the period. Millennium Management LLC boosted its stake in shares of Seanergy Maritime by 400.8% during the 4th quarter. Millennium Management LLC now owns 293,220 shares of the shipping company’s stock valued at $2,706,000 after buying an additional 234,672 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Seanergy Maritime by 15.8% during the 1st quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company’s stock valued at $8,421,000 after buying an additional 88,800 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Seanergy Maritime by 512.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company’s stock worth $546,000 after purchasing an additional 72,423 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Seanergy Maritime by 235.9% in the 4th quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company’s stock worth $926,000 after purchasing an additional 70,481 shares during the last quarter. Institutional investors and hedge funds own 29.36% of the company’s stock.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company’s operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.

The company’s core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.