Seanergy Maritime (NASDAQ:SHIP) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Seanergy Maritime (NASDAQ:SHIP) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

A number of other brokerages have also recently issued reports on SHIP. Zacks Investment Research upgraded shares of Seanergy Maritime from a sell rating to a hold rating in a research note on Tuesday, September 24th. Noble Financial set a $2.00 price target on shares of Seanergy Maritime and gave the stock a buy rating in a research note on Wednesday, August 7th.

NASDAQ:SHIP opened at $0.59 on Tuesday. The firm’s 50-day moving average price is $0.56 and its 200-day moving average price is $1.38. The company has a market capitalization of $15.44 million, a PE ratio of -0.11 and a beta of 0.84. The company has a debt-to-equity ratio of 5.76, a current ratio of 0.27 and a quick ratio of 0.21. Seanergy Maritime has a 1-year low of $0.45 and a 1-year high of $16.35.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings results on Thursday, August 1st. The shipping company reported ($0.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.69) by ($0.29). The firm had revenue of $18.76 million during the quarter, compared to the consensus estimate of $19.27 million. Seanergy Maritime had a negative return on equity of 81.41% and a negative net margin of 27.56%. Equities analysts anticipate that Seanergy Maritime will post -1.3 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Morgan Stanley bought a new position in Seanergy Maritime in the 2nd quarter worth about $27,000. Anson Funds Management LP bought a new position in Seanergy Maritime in the 2nd quarter worth about $163,000. Finally, Verition Fund Management LLC bought a new position in Seanergy Maritime in the 2nd quarter worth about $261,000. Institutional investors own 11.72% of the company’s stock.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp., an international shipping company, engages in the seaborne transportation of drybulk commodities worldwide. As of April 4, 2019, it owned a fleet of 10 Capesizes with a cargo-carrying capacity of approximately 1,748,581 deadweight tons and an average fleet age of 10 years.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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