The stock of Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) is now priced at $0.48 and the shares are 0 points down or -0.17% lower compared to its previous closing price of $0.48. SHIP shares have a float of 59.49 million and although its performance was 0.42% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the SHIP share price recently placing at $0.47 to $0.52. However, some brokerage firms have priced the stock below the average, including one that has called $4.8.
The shorts are climbing into the Seanergy Maritime Holdings Corp. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the SHIP shares have risen. Short interest in the stock represents just 2.06% of its float, but the volume has raised by 512657. The volume of shorted shares rised to 1.223 million from 710786 shares over the last two weeks. The average intraday trading volume has been 1.789 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) raised by $0.002 over the week and lost -$1.131 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.368. The stock recorded its established 52-week high on 11/04/19.
Since 08/28/20, the stock has traded to a low of $0.46 at 4.13%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.79. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Seanergy Maritime Holdings Corp.’s two-week RSI is 14.05. This suggests that the stock is overbought at the moment and that SHIP shares’ price movement remains not stable. The stochastic readings are equally revealing at 1.66% meaning the SHIP share price is currently in overbought territory.
The technical chart shows that the SHIP stock will likely settle at between $0.5093 and $0.5397 per share. However, if the stock dips below $0.4593, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.4397.
Currently, the stock is trading in the red of MACD, with a reading of -0.014. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group cut their recommendation for SHIP from Buy to Hold in July 08 review. Maxim Group analysts see the stock as a Buy with a target price of $10 and $4 in a flash note released to investors on May 22 resuming covering the stock. Noble Capital Markets seeing the stock struggling downgraded it from Outperform to Market Perform on May 13.
The average rating for the SHIP equity is 2.5 and is currently gathering a bullish momentum. Of 2 analysts tracking Seanergy Maritime Holdings Corp. polled by Reuters, 2 rated SHIP as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.