Short Interest in Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Increases By 29.4%

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) saw 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. Based on an average daily volume of 229,300 shares, the days-to-cover ratio is presently 1.9 days. Currently, 3.5% of the company’s stock are sold short.

Seanergy Maritime Price Performance

SHIP stock traded down $0.05 during mid-day trading on Wednesday, reaching $6.41. 30,460 shares of the company’s stock were exchanged, compared to its average volume of 221,058. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.52. The company has a market cap of $130.60 million, a price-to-earnings ratio of 2.74 and a beta of 0.45. The stock’s 50 day moving average is $6.98 and its 200 day moving average is $8.25. Seanergy Maritime has a 12-month low of $6.24 and a 12-month high of $13.19.

Seanergy Maritime Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.24%. The ex-dividend date is Thursday, March 27th. Seanergy Maritime’s payout ratio is 18.96%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SHIP. D.A. Davidson & CO. acquired a new stake in Seanergy Maritime in the 3rd quarter valued at about $179,000. Walleye Capital LLC boosted its stake in Seanergy Maritime by 8.4% during the third quarter. Walleye Capital LLC now owns 480,336 shares of the shipping company’s stock worth $5,966,000 after buying an additional 37,288 shares during the last quarter. PDT Partners LLC purchased a new stake in Seanergy Maritime in the 3rd quarter valued at $194,000. Quarry LP increased its stake in shares of Seanergy Maritime by 77.9% in the 3rd quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock worth $37,000 after acquiring an additional 1,321 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Seanergy Maritime by 3.7% during the 3rd quarter. XTX Topco Ltd now owns 40,332 shares of the shipping company’s stock worth $501,000 after acquiring an additional 1,447 shares during the period. Institutional investors and hedge funds own 29.36% of the company’s stock.

Analyst Ratings Changes

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

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.