With the current price of $1.46, the stock of Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) concluded the trading session seeing its price drop by -0.05 points or at a loss of -3.31% compared to its previous day’s closing price of $1.51. About 1.557 million shares of the stock changed hands on the day. The trading volume of SHIP’s shares during the past session compares with the stock’s average daily trading volume of 7.636 million shares. On the other hand, a float of 0 million shares and a weekly performance of -3.31% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for SHIP’s share which suggests that the stock, price of which is currently buoying between $1.43 and $1.515, is prone to a loss of -100%.
The latest data released on July 15, 2020 shows that the short float in the Seanergy Maritime Holdings Corp.’s stock is trending upward as short interest in SHIP shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the SHIP is currently comprised of 0% of the float as the volume of shorted shares inclined by 258840 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 1.095 million shares from the previous figure of 835787 shares. Stock’s average intraday volume is now standing at 4.509 million shares which indicate that the days to cover the shorts are nearly 1.
After concluding the day’s trading, price of Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) is down -$0.05 over the week and it is -$0.39 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $14.368 that was attained on 11/04/19.
The stock has traded as low as $1.42 in past 52-week, and its current price is 2.82% above from that 52-week low price mark recorded on 07/28/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1.04. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 36.83 as 14-days RSI of Seanergy Maritime Holdings Corp. This means that the SHIP is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 22.48%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $1.5067 for the SHIP’s share while placing it at a 2nd resistance point of $1.5533 to be settled at. But if the stock takes a plunge lower than the 1st support price of $1.4217 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $1.3833.
MACD oscillator is showing a reading of -0.0144 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Maxim Group lowered its recommendation for SHIP stock from Buy to Hold in a review note dated July 08. The stock gets a Buy recommendation from analysts at Maxim Group who resumed covering the stock with a target price of $10 and $4 in their May 22 note to investors.Noble Capital Marketsanalysts downgraded their recommendation from Outperform to Market Perform on May 13.
The average rating of 2 for SHIP is placing the stock in bullish category at the moment. In a poll by Reuters including 2 analysts in it who kept tracking the Seanergy Maritime Holdings Corp., 1 rated the stock as hold. Others were in different opinions for the SHIP. Out of remaining 1 analysts, 1 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that SHIP stock is ahead of earnings per share estimates with a forward price-to-earnings ratio of 9.13.
Projection by Zacks Consensus Estimates suggests that Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) will see its current-quarter revenues drop by nearly -99.9% to be decreased to about $13.94 million. Full-year revenue of the company is however forecasted to be fell to nearly -7.06% to bring $80.39 million in revenues against last year revenue of $86.5 million. Earnings, after adjustments, are likely to fell by -96.56% to post an EPS of -$0.54, while estimate for company’s full year earnings is -$0.48 per share with a growth rate of -96.05%.