Short Interest in Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Drops By 30.2%

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 371,100 shares, a decline of 30.2% from the August 15th total of 531,700 shares. Based on an average daily trading volume, of 207,400 shares, the days-to-cover ratio is currently 1.8 days. Currently, 2.8% of the shares of the stock are sold short.

Seanergy Maritime Price Performance

Shares of Seanergy Maritime stock traded up $0.05 during trading on Friday, hitting $10.27. 177,381 shares of the stock traded hands, compared to its average volume of 243,115. The firm’s fifty day moving average is $10.21 and its 200-day moving average is $10.07. The stock has a market cap of $212.59 million, a price-to-earnings ratio of 12.84 and a beta of 0.64. Seanergy Maritime has a 52 week low of $4.87 and a 52 week high of $13.19. 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 (NASDAQ:SHIP) last announced its quarterly earnings data on Tuesday, August 6th. The shipping company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $40.69 million. During the same period in the previous year, the business posted $0.05 EPS. Research analysts expect that Seanergy Maritime will post 2.1 EPS for the current fiscal year.

Seanergy Maritime Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 9.74%. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.03. Seanergy Maritime’s payout ratio is currently 12.50%.

Institutional Investors Weigh In On Seanergy Maritime

Several institutional investors have recently bought and sold shares of the stock. ORG Partners LLC bought a new stake in Seanergy Maritime in the second quarter valued at approximately $191,000. Susquehanna Fundamental Investments LLC purchased a new stake in Seanergy Maritime during the 2nd quarter valued at $213,000. Jump Financial LLC purchased a new position in shares of Seanergy Maritime in the fourth quarter valued at about $225,000. Quadrature Capital Ltd purchased a new position in shares of Seanergy Maritime in the fourth quarter valued at about $290,000. Finally, Acadian Asset Management LLC bought a new position in shares of Seanergy Maritime during the first quarter valued at about $300,000. 29.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHIP has been the topic of several recent analyst reports. StockNews.com cut Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 13th. Noble Financial upgraded shares of Seanergy Maritime to a “strong-buy” rating in a research report on Tuesday, July 23rd.

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.