Seanergy Maritime (NASDAQ:SHIP) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Seanergy Maritime (NASDAQ:SHIP) from a strong sell rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of 10 Capesize vessels. The Company’s executive offices are in Athens, Greece. “

SHIP has been the subject of several other reports. Noble Financial reiterated a buy rating and issued a $1.50 price target on shares of Seanergy Maritime in a report on Thursday, July 15th. HC Wainwright assumed coverage on Seanergy Maritime in a report on Monday. They issued a buy rating and a $2.00 price target for the company.

SHIP stock opened at $1.43 on Thursday. Seanergy Maritime has a 1 year low of $0.40 and a 1 year high of $2.45. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.84 and a current ratio of 0.99. The stock’s 50 day moving average price is $1.13 and its 200 day moving average price is $1.10. The firm has a market cap of $218.99 million, a P/E ratio of 143.14 and a beta of 0.84.

Seanergy Maritime (NASDAQ:SHIP) last posted its earnings results on Thursday, July 29th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Seanergy Maritime had a return on equity of 1.83% and a net margin of 2.14%. The firm had revenue of $27.83 million for the quarter, compared to analyst estimates of $28.29 million. On average, research analysts predict that Seanergy Maritime will post 0.18 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Stephens Inc. AR acquired a new stake in shares of Seanergy Maritime during the 1st quarter worth $27,000. Credit Suisse AG increased its holdings in shares of Seanergy Maritime by 115.4% during the 2nd quarter. Credit Suisse AG now owns 28,000 shares of the shipping company’s stock worth $31,000 after buying an additional 15,000 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Seanergy Maritime during the 1st quarter worth $38,000. Jane Street Group LLC acquired a new stake in shares of Seanergy Maritime during the 1st quarter worth $42,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Seanergy Maritime during the 1st quarter worth $76,000. Institutional investors and hedge funds own 3.51% of the company’s stock.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp. operates as an international shipping company. The firm engages in seaborne transportation of dry bulk commodities. It focuses on owning and management of fleet of Capesize bulk carriers. The company was founded on January 4, 2008 and is headquartered in Athens, Greece.

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