Could Seanergy Maritime Holdings Corp. (SHIP) See a Reversal After Breaking Its Yearly Low?

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Logo

The stock of Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) hit a new 52-week low and has $0.38 target or 8.00 % below today’s $0.41 share price. The 6 months bearish chart indicates high risk for the $16.40 million company. The 1-year low was reported on Mar, 14 by Barchart.com. If the $0.38 price target is reached, the company will be worth $1.31M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 1.32% or $0.0055 during the last trading session, reaching $0.41. About 151,816 shares traded or 42.30% up from the average. Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) has declined 54.38% since March 14, 2018 and is downtrending. It has underperformed by 58.75% the S&P500.

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More notable recent Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) news were published by: Nasdaq.com which released: “GC Rieber Shipping: Shearwater GeoServices awarded three 4D contracts by Equinor – Nasdaq” on February 25, 2019, also Nasdaq.com with their article: “Dry Bulk and Container Sector Panel Discussions With Major Company Executives Capital Link’s 13th Annual International Shipping Forum Monday, April 1, 2019 in NYC – Nasdaq” published on March 13, 2019, Benzinga.com published: “Jim Cramer Weighs In On Autozone, Vivint Solar, Ship Finance International And More – Benzinga” on March 06, 2019. More interesting news about Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) were released by: Nasdaq.com and their article: “Huntington Ingalls Industries Acquires Fulcrum IT Services – Nasdaq” published on February 25, 2019 as well as Nasdaq.com‘s news article titled: “Norwegian Cruise Line Holdings Reports Fourth Quarter and Full Year 2018 Financial Results – Nasdaq” with publication date: February 21, 2019.

Seanergy Maritime Holdings Corp., an international shipping company, engages in the seaborne transportation of drybulk commodities worldwide. The company has market cap of $16.40 million. As of March 9, 2018, it owned a fleet of 11 dry bulk carriers consisting of 9 Capesizes and 2 Supramaxes with a combined cargo-carrying capacity of approximately 1,682,582 deadweight tons and an average fleet age of 8.9 years. It currently has negative earnings. The firm was formerly known as Seanergy Maritime Corp. and changed its name to Seanergy Maritime Holdings Corp. in July 2008.