Seanergy Maritime (NASDAQ:SHIP) Price Target Cut to $11.00 by Analysts at Maxim Group

Seanergy Maritime (NASDAQ:SHIP) had its price target reduced by Maxim Group from $17.00 to $11.00 in a research report report published on Monday morning,Benzinga reports. Maxim Group currently has a buy rating on the shipping company’s stock.

Separately, StockNews.com downgraded Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 13th.

Seanergy Maritime Price Performance

Shares of NASDAQ:SHIP opened at $6.62 on Monday. Seanergy Maritime has a 12 month low of $6.55 and a 12 month high of $13.19. The firm has a 50 day moving average of $7.20 and a 200-day moving average of $9.21. The company has a current ratio of 1.99, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $137.03 million, a PE ratio of 2.83 and a beta of 0.63.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. The company had revenue of $44.36 million for the quarter, compared to analyst estimates of $42.10 million. Seanergy Maritime had a net margin of 28.37% and a return on equity of 19.01%. During the same quarter in the previous year, the business earned ($0.28) earnings per share. On average, equities research analysts predict that Seanergy Maritime will post 2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Seanergy Maritime

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC lifted its stake in Seanergy Maritime by 193.6% in the second quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock worth $3,547,000 after acquiring an additional 236,941 shares during the period. MML Investors Services LLC bought a new stake in shares of Seanergy Maritime in the third quarter worth approximately $383,000. Trueblood Wealth Management LLC bought a new stake in Seanergy Maritime in the 4th quarter worth approximately $97,000. PDT Partners LLC purchased a new stake in Seanergy Maritime during the third quarter valued at $194,000. Finally, Walleye Capital LLC increased its position in shares of Seanergy Maritime by 8.4% during the 3rd quarter. Walleye Capital LLC now owns 480,336 shares of the shipping company’s stock valued at $5,966,000 after purchasing an additional 37,288 shares during the last quarter. 29.36% of the stock is currently owned by hedge funds and other institutional investors.

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.