Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Short Interest Up 29.4% in March

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 435,600 shares, an increase of 29.4% from the February 28th total of 336,700 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average daily trading volume, of 229,300 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

SHIP has been the subject of a number of research analyst reports. StockNews.com downgraded Seanergy Maritime from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Maxim Group dropped their target price on shares of Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, February 3rd.

Seanergy Maritime Stock Performance

Shares of NASDAQ:SHIP traded down $0.24 during trading on Monday, hitting $6.41. 207,055 shares of the company traded hands, compared to its average volume of 259,703. The stock has a market capitalization of $130.50 million, a price-to-earnings ratio of 2.74 and a beta of 0.45. Seanergy Maritime has a one year low of $6.23 and a one year high of $13.19. The company has a quick ratio of 0.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The business’s fifty day moving average is $7.00 and its 200-day moving average is $8.31.

Seanergy Maritime Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 27th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.25%. The ex-dividend date is Thursday, March 27th. Seanergy Maritime’s dividend payout ratio is presently 18.96%.

Institutional Investors Weigh In On Seanergy Maritime

A number of hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Seanergy Maritime in the 4th quarter worth about $25,000. Quarry LP increased its stake in shares of Seanergy Maritime by 77.9% in the third quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 1,321 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Seanergy Maritime during the fourth quarter valued at approximately $70,000. Boothbay Fund Management LLC acquired a new position in shares of Seanergy Maritime during the fourth quarter worth approximately $76,000. Finally, Aigen Investment Management LP bought a new position in Seanergy Maritime in the 4th quarter worth approximately $84,000. 29.36% of the stock is currently owned by institutional investors.

Seanergy Maritime Company Profile

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.