Seanergy Maritime (NASDAQ:SHIP) Downgraded to “Buy” Rating by StockNews.com

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

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 3.2 %

Shares of SHIP opened at $9.14 on Wednesday. The firm has a 50 day simple moving average of $10.61 and a two-hundred day simple moving average of $10.64. The company has a market cap of $189.20 million, a P/E ratio of 3.91 and a beta of 0.65. Seanergy Maritime has a one year low of $5.01 and a one year high of $13.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.52.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.07. Seanergy Maritime had a return on equity of 19.01% and a net margin of 28.37%. The business had revenue of $44.36 million during the quarter, compared to the consensus estimate of $42.10 million. During the same period in the prior year, the company earned ($0.28) EPS. Research analysts forecast that Seanergy Maritime will post 2.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Seanergy Maritime

A number of institutional investors and hedge funds have recently bought and sold shares of the company. ORG Partners LLC bought a new stake in shares of Seanergy Maritime during the second quarter worth about $191,000. Susquehanna Fundamental Investments LLC bought a new stake in Seanergy Maritime during the 2nd quarter worth approximately $213,000. Acadian Asset Management LLC bought a new stake in Seanergy Maritime during the 1st quarter worth approximately $300,000. XTX Topco Ltd increased its position in Seanergy Maritime by 99.6% in the 2nd quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock valued at $384,000 after acquiring an additional 19,401 shares during the period. Finally, Quadrature Capital Ltd raised its stake in shares of Seanergy Maritime by 82.0% during the first quarter. Quadrature Capital Ltd now owns 67,427 shares of the shipping company’s stock valued at $586,000 after acquiring an additional 30,381 shares during the last quarter. Institutional investors and hedge funds own 29.36% of the company’s stock.

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.