Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Given Average Rating of “Strong Buy” by Analysts

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus price objective of $1.30 for the company and are forecasting that the company will post $0.07 earnings per share for the current quarter, according to Zacks. Zacks has also given Seanergy Maritime an industry rank of 35 out of 255 based on the ratings given to related companies.

Several research firms have issued reports on SHIP. Maxim Group reissued a “buy” rating on shares of Seanergy Maritime in a research note on Friday, November 1st. Zacks Investment Research raised Seanergy Maritime from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research report on Tuesday, October 22nd. Finally, ValuEngine downgraded Seanergy Maritime from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

A number of large investors have recently added to or reduced their stakes in SHIP. Verition Fund Management LLC bought a new position in shares of Seanergy Maritime during the 2nd quarter worth approximately $261,000. Anson Funds Management LP acquired a new stake in shares of Seanergy Maritime in the second quarter valued at approximately $163,000. Virtu Financial LLC bought a new stake in shares of Seanergy Maritime in the third quarter worth $27,000. Finally, Morgan Stanley bought a new stake in shares of Seanergy Maritime in the second quarter worth $27,000. 8.21% of the stock is owned by hedge funds and other institutional investors.

Shares of SHIP stock remained flat at $$0.52 during trading hours on Friday. 126,264 shares of the stock traded hands, compared to its average volume of 285,343. Seanergy Maritime has a 52 week low of $0.45 and a 52 week high of $10.05. The company has a 50 day moving average of $0.57 and a 200 day moving average of $0.63. The stock has a market cap of $13.98 million, a P/E ratio of -0.09 and a beta of 0.92.

Seanergy Maritime (NASDAQ:SHIP) last announced its earnings results on Tuesday, November 5th. The shipping company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.23). The company had revenue of $23.96 million during the quarter. Seanergy Maritime had a negative return on equity of 80.98% and a negative net margin of 20.98%. As a group, research analysts predict that Seanergy Maritime will post -0.77 earnings per share for the current year.

About Seanergy Maritime

Seanergy Maritime Holdings Corp., an international shipping company, engages in the seaborne transportation of drybulk commodities worldwide. As of April 4, 2019, it owned a fleet of 10 Capesizes with a cargo-carrying capacity of approximately 1,748,581 deadweight tons and an average fleet age of 10 years.

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