Monday, September 13, 2021
Seanergy Maritime (SHIP)
Virtual NDR Showcases Improved Outlook
Seanergy Maritime Holdings Corp., an international shipping company, provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. Seanergy Maritime Holdings Corp. is the only pure-play Capesize shipping company listed in the US capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of 10 Capesize vessels, with total capacity of approximately 1,748,581 dwt and an average fleet age of about 9.8 years. The Company is incorporated in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and class A warrants under “SHIPW”.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Virtual non-deal roadshow highlighted that SHIP has moved onto firmer ground. Late last week, we hosted a virtual NDR with management, CEO Stamatis Tsantanis and CFO Stavros Gyftakis. The company presentation and Q&A session highlighted significant progress this year. A replay should be available shortly at www.channelchek.com
Stock buy back program established, but refinancing convert debt makes more sense as next move on financing front. A buy back program reinforces our view that equity issuance near the current price is unlikely despite the F-3 filing on July 2nd. We don’t think that the buy back program has been active yet, as retiring the convert debt appears to be the highest priority since it is convertible at …
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
