Noble Financial Boosts Seanergy Maritime (NASDAQ:SHIP) Price Target to $12.00

Seanergy Maritime (NASDAQ:SHIP) had its price target increased by equities researchers at Noble Financial from $10.00 to $12.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the shipping company’s stock. Noble Financial’s price objective would indicate a potential upside of 31.72% from the company’s previous close.

Separately, B. Riley reissued a “buy” rating and issued a $11.00 target price on shares of Seanergy Maritime in a report on Tuesday, January 16th.

Seanergy Maritime Trading Down 0.9 %

SHIP opened at $9.11 on Monday. The firm has a market cap of $179.01 million, a price-to-earnings ratio of 130.14 and a beta of 0.77. Seanergy Maritime has a 52 week low of $4.03 and a 52 week high of $9.35. The business’s 50 day moving average is $7.85 and its two-hundred day moving average is $6.76. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 0.86.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in Seanergy Maritime by 290.5% during the first quarter. Renaissance Technologies LLC now owns 2,827,275 shares of the shipping company’s stock worth $3,223,000 after purchasing an additional 2,103,300 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Seanergy Maritime during the fourth quarter worth $364,000. GSA Capital Partners LLP purchased a new stake in Seanergy Maritime during the fourth quarter worth $177,000. State Street Corp boosted its position in Seanergy Maritime by 34.4% during the third quarter. State Street Corp now owns 228,953 shares of the shipping company’s stock worth $114,000 after purchasing an additional 58,579 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Seanergy Maritime by 313.4% during the fourth quarter. Mackenzie Financial Corp now owns 197,129 shares of the shipping company’s stock worth $1,544,000 after purchasing an additional 149,439 shares in the last quarter. Institutional investors and hedge funds own 7.31% of the company’s stock.

About Seanergy Maritime

Seanergy Maritime Holdings Corp., a shipping company, engages in the seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 17 vessels with an aggregate cargo carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp. and changed its name to Seanergy Maritime Holdings Corp.