Maxim Group analyst Tate Sullivan maintained a Buy rating on Seanergy Maritime (SHIP) yesterday and set a price target of $4. The company’s shares closed yesterday at $0.57, close to its 52-week low of $0.52.
Sullivan commented:
“We maintain our Buy rating, $4 price target and annual estimates after SHIP reported 1Q19 results after the close Friday and announced that its current shipping rate is around $14,000 per day, up 300% from a low of $3,500 earlier this year.”
According to TipRanks.com, Sullivan is a 4-star analyst with an average return of 4.6% and a 66.2% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Recon Technology, and Emcor Group Inc.
Currently, the analyst consensus on Seanergy Maritime is a Moderate Buy with an average price target of $2.80, which is a 391.1% upside from current levels. In a report released yesterday, Noble Financial also upgraded the stock to Buy with a $1.60 price target.
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The company has a one-year high of $16.35 and a one-year low of $0.52. Currently, Seanergy Maritime has an average volume of 236K.
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Seanergy Maritime Holdings Corp. is a shipping company, which engages in the seaborne transportation of dry bulk commodities. It focuses on owning and management of fleet of Capesize bulk carriers. The company was founded on January 4, 2008 and is headquartered in Athens, Greece.
