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 $1.16, close to its 52-week low of $1.02.
Sullivan commented:
“SHIP completed an equity offering of 4.2 million shares earlier this month to prepay debt or acquire ships, among other potential uses.”
According to TipRanks.com, Sullivan is a 4-star analyst with an average return of 7.0% and a 72.1% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Emcor Group, and Tetra Tech.
Currently, the analyst consensus on Seanergy Maritime is a Moderate Buy with an average price target of $4.
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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 $3.44 million.
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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.
