Maxim Group Thinks Seanergy Maritime’s Stock is Going to Recover

Maxim Group analyst Tate Sullivan maintained a Buy rating on Seanergy Maritime (SHIPResearch Report) yesterday and set a price target of $2.00. The company’s shares closed last Friday at $0.72, close to its 52-week low of $0.65.

According to TipRanks.com, Sullivan is a 5-star analyst with an average return of 15.4% and a 42.4% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Natural Gas Services Group, Globus Maritime, and NV5 Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Seanergy Maritime with a $1.83 average price target, implying a 162.4% upside from current levels. In a report issued on July 26, Noble Financial also maintained a Buy rating on the stock with a $1.50 price target.

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The company has a one-year high of $1.62 and a one-year low of $0.65. Currently, Seanergy Maritime has an average volume of 3.21M.

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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.

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