Seanergy Maritime Holdings Corp. [SHIP] moved up 1.59: Why It’s Important


Seanergy Maritime Holdings Corp. [NASDAQ: SHIP] gained 1.59% on the last trading session, reaching $0.70 price per share at the time. The company report on July 7, 2022 that Seanergy Announces Delivery & Employment of Recent Capesize Acquisition and New Financings of $44 million.

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Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) reported today the delivery of the recently-announced Capesize vessel acquisition, M/V Honorship, and the simultaneous commencement of its period employment. Moreover, Seanergy successfully concluded a new sustainability-linked loan for the M/V Honorship and a new loan facility for the 2010-built M/V Dukeship.

Seanergy Maritime Holdings Corp. represents 172.31 million in outstanding shares, while the company has a total market value of $121.92 million with the latest information. SHIP stock price has been found in the range of $0.66 to $0.699.

If compared to the average trading volume of 3.51M shares, SHIP reached a trading volume of 2192302 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Seanergy Maritime Holdings Corp. [SHIP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SHIP shares is $1.72 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SHIP stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Noble Capital Markets have made an estimate for Seanergy Maritime Holdings Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 20, 2022. The new note on the price target was released on October 07, 2021, representing the official price target for Seanergy Maritime Holdings Corp. stock. Previously, the target price had yet another raise to $1.50, while Noble Capital Markets analysts kept a Outperform rating on SHIP stock.

The Average True Range (ATR) for Seanergy Maritime Holdings Corp. is set at 0.05, with the Price to Sales ratio for SHIP stock in the period of the last 12 months amounting to 0.75. The Price to Book ratio for the last quarter was 0.52.

Trading performance analysis for SHIP stock

Seanergy Maritime Holdings Corp. [SHIP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.10. With this latest performance, SHIP shares dropped by -27.98% in over the last four-week period, additionally sinking by -23.59% over the last 6 months – not to mention a drop of -30.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SHIP stock in for the last two-week period is set at 28.37, with the RSI for the last a single of trading hit 27.61, and the three-weeks RSI is set at 31.04 for Seanergy Maritime Holdings Corp. [SHIP]. The present Moving Average for the last 50 days of trading for this stock 0.9961, while it was recorded at 0.7003 for the last single week of trading, and 1.0633 for the last 200 days.

Seanergy Maritime Holdings Corp. [SHIP]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Seanergy Maritime Holdings Corp. [SHIP] shares currently have an operating margin of +42.58 and a Gross Margin at +52.49. Seanergy Maritime Holdings Corp.’s Net Margin is presently recorded at +27.01.

Return on Equity for this stock inclined to 24.31, with Return on Assets sitting at 10.57.

An analysis of insider ownership at Seanergy Maritime Holdings Corp. [SHIP]

There are presently around $6 million, or 4.80% of SHIP stock, in the hands of institutional investors. The top three institutional holders of SHIP stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 2,827,275, which is approximately 290.521% of the company’s market cap and around 59.60% of the total institutional ownership; AMITELL CAPITAL PTE LTD, holding 1,699,610 shares of the stock with an approximate value of $1.17 million in SHIP stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $0.67 million in SHIP stock with ownership of nearly 12.894% of the company’s market capitalization.

Positions in Seanergy Maritime Holdings Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 20 institutional holders increased their position in Seanergy Maritime Holdings Corp. [NASDAQ:SHIP] by around 5,629,029 shares. Additionally, 20 investors decreased positions by around 1,266,599 shares, while 7 investors held positions by with 1,519,069 shares. The mentioned changes placed institutional holdings at 8,414,697 shares, according to the latest SEC report filing. SHIP stock had 14 new institutional investments in for a total of 3,043,249 shares, while 12 institutional investors sold positions of 859,219 shares during the same period.