Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Short Interest Down 30.2% in August

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 371,100 shares, a drop of 30.2% from the August 15th total of 531,700 shares. Based on an average daily volume of 207,400 shares, the days-to-cover ratio is presently 1.8 days. Currently, 2.8% of the company’s stock are short sold.

Seanergy Maritime Stock Up 0.5 %

Shares of Seanergy Maritime stock traded up $0.05 during midday trading on Friday, hitting $10.27. The company had a trading volume of 177,381 shares, compared to its average volume of 243,115. Seanergy Maritime has a 52-week low of $4.87 and a 52-week high of $13.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 0.55. The stock has a market capitalization of $212.59 million, a P/E ratio of 12.84 and a beta of 0.64. The company has a 50 day moving average of $10.21 and a 200 day moving average of $10.07.

Seanergy Maritime (NASDAQ:SHIP) last released its earnings results on Tuesday, August 6th. The shipping company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.14. The firm had revenue of $43.13 million for the quarter, compared to analysts’ expectations of $40.69 million. Seanergy Maritime had a return on equity of 12.42% and a net margin of 20.12%. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, equities analysts predict that Seanergy Maritime will post 2.1 earnings per share for the current fiscal year.

Seanergy Maritime Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.03. This represents a $1.00 annualized dividend and a yield of 9.74%. Seanergy Maritime’s payout ratio is 12.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC purchased a new position in Seanergy Maritime in the 2nd quarter worth approximately $191,000. XTX Topco Ltd lifted its holdings in shares of Seanergy Maritime by 99.6% during the second quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock valued at $384,000 after purchasing an additional 19,401 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Seanergy Maritime during the second quarter valued at $213,000. Jump Financial LLC bought a new stake in Seanergy Maritime in the 4th quarter worth about $225,000. Finally, Quadrature Capital Ltd raised its position in Seanergy Maritime by 82.0% in the 1st quarter. Quadrature Capital Ltd now owns 67,427 shares of the shipping company’s stock worth $586,000 after buying an additional 30,381 shares during the last quarter. Institutional investors own 29.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SHIP. StockNews.com cut Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 13th. Noble Financial raised shares of Seanergy Maritime to a “strong-buy” rating in a research report on Tuesday, July 23rd.

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.