why Seanergy Maritime Holdings Corp. [SHIP] is a Good Choice for Investors After New Price Target of $1.23

Seanergy Maritime Holdings Corp. [NASDAQ: SHIP] jumped around 0.04 points on Wednesday, while shares priced at $0.57 at the close of the session, up 7.84%. The company report on December 9, 2022 that Seanergy Maritime Announces Update of Offer to Purchase its Outstanding Class E Warrants.


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Seanergy Maritime Holdings Corp. stock is now -36.87% down from its year-to-date (YTD) trading value. SHIP Stock saw the intraday high of $0.575 and lowest of $0.525 per share. The company’s 52-week high price is 1.32, which means current price is +29.09% above from all time high which was touched on 03/10/22.

Compared to the average trading volume of 1.83M shares, SHIP reached a trading volume of 3332879 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $1.23 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 2.30. 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 0.03, with the Price to Sales ratio for SHIP stock in the period of the last 12 months amounting to 0.67. The Price to Book ratio for the last quarter was 0.44.

How has SHIP stock performed recently?

Seanergy Maritime Holdings Corp. [SHIP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.48. With this latest performance, SHIP shares gained by 15.92% in over the last four-week period, additionally sinking by -29.92% over the last 6 months – not to mention a drop of -35.58% 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 66.44, with the RSI for the last a single of trading hit 72.32, and the three-weeks RSI is set at 61.51 for Seanergy Maritime Holdings Corp. [SHIP]. The present Moving Average for the last 50 days of trading for this stock 0.49, while it was recorded at 0.52 for the last single week of trading, and 0.78 for the last 200 days.

Insider trade positions for Seanergy Maritime Holdings Corp. [SHIP]

There are presently around $1 million, or 1.40% of SHIP stock, in the hands of institutional investors. The top three institutional holders of SHIP stocks are: MORGAN STANLEY with ownership of 559,745, which is approximately 2.005% of the company’s market cap and around 59.60% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 420,600 shares of the stock with an approximate value of $0.24 million in SHIP stocks shares; and STATE STREET CORP, currently with $0.13 million in SHIP stock with ownership of nearly 34.383% of the company’s market capitalization.

Positions in Seanergy Maritime Holdings Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 9 institutional holders increased their position in Seanergy Maritime Holdings Corp. [NASDAQ:SHIP] by around 188,916 shares. Additionally, 13 investors decreased positions by around 2,148,690 shares, while 9 investors held positions by with 170,953 shares. The mentioned changes placed institutional holdings at 2,166,653 shares, according to the latest SEC report filing. SHIP stock had 2 new institutional investments in for a total of 32,054 shares, while 8 institutional investors sold positions of 1,105,798 shares during the same period.

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