Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Sees Large Drop in Short Interest

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) was the target of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 284,900 shares, a decline of 33.6% from the January 31st total of 429,100 shares. Based on an average daily volume of 261,900 shares, the short-interest ratio is presently 1.1 days. Approximately 2.2% of the company’s shares are sold short.

Analyst Ratings Changes

A number of research firms have issued reports on SHIP. Maxim Group decreased their target price on Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. StockNews.com cut Seanergy Maritime from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd bought a new stake in Seanergy Maritime during the fourth quarter worth about $25,000. Quarry LP raised its holdings in Seanergy Maritime by 77.9% during the third quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock worth $37,000 after acquiring an additional 1,321 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Seanergy Maritime during the fourth quarter worth about $70,000. Boothbay Fund Management LLC bought a new stake in Seanergy Maritime during the fourth quarter worth about $76,000. Finally, Aigen Investment Management LP bought a new stake in Seanergy Maritime during the fourth quarter worth about $84,000. 29.36% of the stock is owned by institutional investors and hedge funds.

Seanergy Maritime Stock Up 0.4 %

SHIP stock opened at $6.90 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.52. The stock has a market capitalization of $142.82 million, a P/E ratio of 2.95 and a beta of 0.63. The business has a 50-day moving average of $6.97 and a 200-day moving average of $8.86. Seanergy Maritime has a fifty-two week low of $6.55 and a fifty-two week high of $13.19.

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.