Maxim Group analyst James Jang maintained a Buy rating on Seanergy Maritime (SHIP) today and set a price target of $10. The company’s shares opened today at $4.84, close to its 52-week low of $4.55.
Jang said:
“SHIP reported 4Q18 results that beat our estimates, despite a weak Capesize environment.”
According to TipRanks.com, Jang is a 3-star analyst with an average return of 4.0% and a 39.9% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Eagle Bulk Shipping Inc, and Nordic American Tanker.
Currently, the analyst consensus on Seanergy Maritime is a Moderate Buy with an average price target of $10.
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Based on Seanergy Maritime’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $3.19 million. In comparison, last year the company had a GAAP net loss of $116K.
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Seanergy Maritime Holdings Corp. is an international shipping company that provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. It currently owns a fleet of eleven dry bulk carriers, consisting of nine Capesizes and two Supramaxes.
