Seanergy Maritime Hl down 4.17% to $1.15 after earnings beat

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Seanergy Maritime Hl (SHIP) said ahead of Tuesday’s open that it earned $0.04 per share in the first quarter of 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analysts’ estimates or prior periods. On the revenue line, the company reported $29.7 million, missing estimates of $434,000. In the same quarter a year ago, the company lost $0.01 a share on revenue of $20.4 million.

The stock is down 4.17% at $1.15 after the report.

Despite the increase in revenues, profits declined, signaling declining profit margins.

The average recommendation from Wall Street analysts was a strong buy which could be revised based on this new data.

InvestorsObserver gives the stock a bullish sentiment score at the moment based on recent trades.

Seanergy Maritime Hl has been performing very well over the past few months, achieving a high long-term technical ranking by InvestorsObserver of 89, placing Seanergy Maritime Hl in the top 25% of stocks. The company set a 52-week low on January 24, 2022 at $0.79 and a 52-week high on September 27, 2021 at $1.62.

Seanergy Maritime Holdings Corp is an international shipping company that provides dry bulk shipping services through the ownership and operation of dry bulk vessels. It derives most of its income from ships. The Company’s fleet of ships includes Fellowship, Championship, Partnership, Knightship, Lordship, Gloriuship, Leadership, Geniuship, Premiership and Squireship, among others.

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