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

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) was the target of a significant increase in short interest in 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 company’s stock are sold short. Based on an average daily trading volume, of 229,300 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Trading of Seanergy Maritime

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

Seanergy Maritime Stock Up 0.3 %

NASDAQ SHIP traded up $0.02 during trading hours on Tuesday, hitting $6.42. 20,798 shares of the company traded hands, compared to its average volume of 259,211. The stock has a market capitalization of $130.80 million, a price-to-earnings ratio of 2.75 and a beta of 0.45. Seanergy Maritime has a twelve month low of $6.24 and a twelve month high of $13.19. The business’s 50-day moving average is $6.99 and its 200-day moving average is $8.28. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 27th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.40 annualized dividend and a dividend yield of 6.23%. Seanergy Maritime’s dividend payout ratio is presently 18.96%.

Wall Street Analyst Weigh In

Several research firms have commented on SHIP. Maxim Group cut their target price on Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. StockNews.com cut shares of Seanergy Maritime from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th.

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.