Seanergy Maritime (NASDAQ:SHIP) Rating Lowered to “Buy” at StockNews.com

Seanergy Maritime (NASDAQ:SHIP) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Noble Financial upgraded shares of Seanergy Maritime to a “strong-buy” rating in a research note on Tuesday, July 23rd.

Seanergy Maritime Stock Down 0.4 %

Shares of NASDAQ:SHIP opened at $9.28 on Tuesday. The company has a market cap of $192.10 million, a price-to-earnings ratio of 6.40 and a beta of 0.65. The firm’s 50-day simple moving average is $10.85 and its 200-day simple moving average is $10.64. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.72. Seanergy Maritime has a fifty-two week low of $4.87 and a fifty-two week high of $13.19.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings data on Tuesday, August 6th. The shipping company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.54 by $0.14. Seanergy Maritime had a net margin of 20.12% and a return on equity of 12.42%. The firm had revenue of $43.13 million during the quarter, compared to analysts’ expectations of $40.69 million. During the same quarter last year, the business earned $0.05 earnings per share. As a group, equities research analysts predict that Seanergy Maritime will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On Seanergy Maritime

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new position in Seanergy Maritime during the second quarter worth about $191,000. Susquehanna Fundamental Investments LLC acquired a new position in Seanergy Maritime during the second quarter worth about $213,000. Acadian Asset Management LLC acquired a new position in Seanergy Maritime during the first quarter worth about $300,000. XTX Topco Ltd raised its position in Seanergy Maritime by 99.6% during the second quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock worth $384,000 after acquiring an additional 19,401 shares during the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Seanergy Maritime by 82.0% in the first quarter. Quadrature Capital Ltd now owns 67,427 shares of the shipping company’s stock valued at $586,000 after buying an additional 30,381 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., 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.