Why Seanergy Maritime Holdings Corp. (SHIP) Stock Rallied Today

Stay Ahead of Wall Street. Find out what is happening to Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) stock today? Its price is jumping 0.03 points, trading at $0.55 levels, and is up 4.18% from its previous close of $0.52. The shares seem to have an active trading volume day with a reported 194617 contracts so far this session. SHIP shares had a relatively better volume day versus average trading capacity of 417.3 thousand shares, but with a 14.91 million float and a 5.05% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SHIP stock indicates that the average analyst price target is $1.3 per share. This means the stock has a potential increase of 136.36% from where the SHIP share price has been trading recently which is between $0.4951 and $0.545. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $1.6.

During the recent trading session for Seanergy Maritime Holdings Corp. (NASDAQ:SHIP), the company witnessed their stock rise $0.06 over a week and tumble down $-0.05 from the price 20 days ago. When compared to their established 52-week high of $16.35, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/22/18. The recent low of $0.45 stood for a -96.66% since 03/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.85 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for SHIP is set at $1.3, a figure which is below the recent 1-year high the stock witnessed.

Looking at the current readings for Seanergy Maritime Holdings Corp., the two-week RSI stands at 52.87. This figure suggests that SHIP stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SHIP readings is similarly very revealing as it has a stochastic reading of 57.76% at this stage. This figure means that SHIP share price today is being neutral.

Technical chart claims that Seanergy Maritime Holdings Corp. (SHIP) would settle between $0.55/share to $0.57/share level. However, if the stock price goes below the $0.5 mark, then the market for Seanergy Maritime Holdings Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $0.47 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.02. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Maxim Group, assumed coverage of SHIP assigning Buy rating, according to their opinion released on May 22. Noble Capital Markets analysts have lowered their rating of Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) stock from Outperform to Market Perform in a separate flash note issued to investors on May 13. Analysts at Maxim Group are sticking to their Buy stance. However, on November 07, they lifted price target for these shares to $3 from $2.

SHIP equity has an average rating of 2.5, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Seanergy Maritime Holdings Corp. (SHIP)’s current-quarter revenues are projected to climb by nearly 69.2% to hit $28.65 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 79.3% from $51.34 million to a noteworthy $92.05 million. At the other end of the current quarter income statement, Seanergy Maritime Holdings Corp. is expected to see its adjusted earnings surge by roughly -113.3% to hit $-0.04 per share. For the fiscal year, SHIP’s earnings are projected to climb by roughly 75.7% to hit $-1.35 per share.