Seanergy Maritime (NASDAQ:SHIP) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Seanergy Maritime (NASDAQ:SHIP) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The firm currently has $0.50 price target on the shipping company’s stock.

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. “

Separately, Maxim Group lowered shares of Seanergy Maritime from a buy rating to a hold rating in a report on Wednesday, July 8th.

NASDAQ:SHIP opened at $0.48 on Wednesday. The company has a fifty day moving average of $0.45 and a 200 day moving average of $0.61. Seanergy Maritime has a 52 week low of $0.39 and a 52 week high of $14.37. The company has a quick ratio of 0.15, a current ratio of 0.16 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $7.83 million, a P/E ratio of -0.15 and a beta of 0.76.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings data on Wednesday, August 5th. The shipping company reported ($0.65) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.67) by $0.02. Seanergy Maritime had a negative net margin of 21.30% and a negative return on equity of 46.30%. The business had revenue of $9.04 million during the quarter, compared to analyst estimates of $10.50 million. As a group, analysts anticipate that Seanergy Maritime will post -0.37 EPS for the current year.

An institutional investor recently bought a new position in Seanergy Maritime stock. Jane Street Group LLC purchased a new position in Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 44,312 shares of the shipping company’s stock, valued at approximately $95,000. Jane Street Group LLC owned approximately 0.27% of Seanergy Maritime as of its most recent SEC filing. 0.42% of the stock is currently owned by institutional investors and hedge funds.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp., an international shipping company, engages in the seaborne transportation of dry bulk commodities worldwide. It owns a fleet of ten Capesize bulk carriers with a cargo-carrying capacity of approximately 1,748,581 deadweight tons and an average fleet age of 11 years. The company is headquartered in Athens, Greece.

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