Seanergy Maritime (NASDAQ:SHIP) Given New $11.00 Price Target at Maxim Group

Seanergy Maritime (NASDAQ:SHIP) had its price target reduced by Maxim Group from $17.00 to $11.00 in a research note released on Monday,Benzinga reports. They currently have 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 research report on Wednesday, November 13th.

Seanergy Maritime Stock Performance

NASDAQ SHIP opened at $6.62 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 1.99. Seanergy Maritime has a fifty-two week low of $6.55 and a fifty-two week high of $13.19. The stock has a 50-day simple moving average of $7.20 and a two-hundred day simple moving average of $9.21. The firm has a market capitalization of $137.03 million, a P/E ratio of 2.83 and a beta of 0.63.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHIP. Millennium Management LLC grew its stake in shares of Seanergy Maritime by 193.6% during the 2nd quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock valued at $3,547,000 after buying an additional 236,941 shares during the period. Walleye Capital LLC boosted its holdings in Seanergy Maritime by 8.4% in the third 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. MML Investors Services LLC acquired a new position in Seanergy Maritime during the 3rd quarter worth $383,000. PDT Partners LLC acquired a new stake in Seanergy Maritime during the third quarter valued at approximately $194,000. Finally, D.A. Davidson & CO. bought a new position in Seanergy Maritime during the third quarter worth $179,000. 29.36% of the stock is currently owned by institutional investors and hedge funds.

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.