Seanergy Maritime (SHIP) Receives a Buy from Maxim Group

By Jason Carr

In a report released yesterday, Tate Sullivan from Maxim Group maintained a Buy rating on Seanergy Maritime (SHIPResearch Report), with a price target of $1.00. The company’s shares closed last Monday at $0.74, close to its 52-week low of $0.45.

According to TipRanks.com, Sullivan is a 1-star analyst with an average return of -0.3% and a 58.7% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Mistras Group Inc, and Recon Technology.

Seanergy Maritime has an analyst consensus of Moderate Buy, with a price target consensus of $1.30, implying an 80.6% upside from current levels. In a report issued on October 17, Noble Financial also maintained a Buy rating on the stock with a $1.60 price target.

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Based on Seanergy Maritime’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.9 million. In comparison, last year the company had a GAAP net loss of $5.56 million.

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Seanergy Maritime is an international provider of marine dry bulk shipping services through the ownership and operation.