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SHIP

Seanergy Marine

$0.64

-0.0425 (-6.25%)

17:05
07/19/19
07/19
17:05
07/19/19
17:05

Seanergy Maritime receives noncompliance notice from Nasdaq

Seanergy Maritime announced that it has received written notification from Nasdaq indicating that because the closing bid price of the company's common stock for 30 consecutive business days, from May 31 to July 12, was below the minimum $1.00 per share bid price requirement for continued listing on Nasdaq, the company is not in compliance with Nasdaq Listing Rule 5550. Pursuant to the Nasdaq Listing Rule 5810, the applicable grace period to regain compliance is 180 days, or until January 13, 2020. The company intends to monitor the closing bid price of its common stock between now and January 13, 2020 and is considering its options, in order to regain compliance with Nasdaq minimum bid price requirement. The company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. In the event the company does not regain compliance within the 180-day grace period and it meets all other listing standards and requirements, the company may be eligible for an additional 180-day grace period. The company intends to cure the deficiency within the prescribed grace period. During this time, the company's common stock will continue to be listed and trade on Nasdaq. The company's business operations are not affected by the receipt of the notification.

SHIP Seanergy Marine
$0.64

-0.0425 (-6.25%)

03/21/19
MAXM
03/21/19
NO CHANGE
Target $10
MAXM
Buy
Seanergy Marine price target lowered to $10 from $37.50 at Maxim
Maxim analyst James Jang lowered his price target on Seanergy Marine (SHIP) to $10 after its Q4 results, saying that while earnings exceeded expectations, his rolled out model to 2021 NAV is also reducing his estimates. The analyst contends that the Vale (VALE) dam collapse will limit iron ore cargo shipments ex-Brazil in 2019 but sees those factors largely impacting only the first half of 2019. Longer term, Jang keeps his Buy rating and says his bullish thesis remains intact.
05/13/19
NBLE
05/13/19
DOWNGRADE
NBLE
Market Perform
Seanergy Marine downgraded to Market Perform from Outperform at Noble Capital
06/17/19
NBLE
06/17/19
UPGRADE
NBLE
Outperform
Seanergy Marine upgraded to Outperform from Market Perform at Noble Capital
Noble Capital analyst Poe Fratt upgraded Seanergy Marine to Outperform from Market Perform, stating that he is adjusting his 2019 EBITDA estimate to reflect lower rates following the company's weaker than expected Q1 results but that along with a high risk he now sees high upside potential for the shares given the market improvement expected later this year.

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