Stock News Staff

Vericel Corp (NASDAQ:VCEL)

Vericel Corp (NASDAQ:VCEL) Beats Estimates but Drops

Vericel Corp (NASDAQ:VCEL)

Vericel Corp (NASDAQ:VCEL) stock is down over 16%, on heavy volume, after the biotechnology company reported Q3 2017 earnings. Vericel’s net loss for the quarter ended September 30, 2017 was (-$5.4) million, or (-$0.16) per share, compared to a net loss of (-$6.7) million, or (-$0.38) per share, for the same period in 2016. The Q3 loss was actually better than the analyst’s consensus estimate of a loss of (-$0.17) according to reports made available by the NASDAQ Markets.

Vericel Corp (NASDAQ:VCEL)

Cambridge, MA-based Vericel Corp (NASDAQ:VCEL) is a commercial-stage biopharmaceutical company that develops and commercializes cellular therapies for use in the treatment of patients with severe diseases and conditions. It markets three cell therapy products, including Carticel and MACI, which are used for the treatment of cartilage defects in the knee; and Epicel, a permanent skin replacement that is used for the treatment of patients with deep-dermal or full-thickness burns. Vericel has also developed ixmyelocel-T, which is in Phase IIb clinical trial, a patient-specific multicellular therapy for the treatment of advanced heart failure due to ischemic dilated cardiomyopathy.

Vericel Prior Business Update

One year ago, VCEL shares actually touched the $2 mark, then went on a slow, steady rise to eventually trade over $6 during the first few days of October. Then, on October 5, Vericel Corp (NASDAQ:VCEL) produced a business update that sent shares reeling. That business update included the news that the FDA indicated that Vericel should plan to conduct at least one additional adequate and well-controlled clinical study to support a Biologics License Application for their drug candidate ixmyelocel-T. Since that announcement, shares slid and met fierce resistance at the $4.50 level – putting any rally to rest.

VCEL Stock Performance

Vericel Corp (NASDAQ:VCEL) has, over the past four years, experienced higher sales figures and shrinking EPS losses. In 2012, the company posted an EPS loss of (-$16.25). That loss shrank to (-$1.18) for 2016. Meanwhile, sales were $28.8 million in 2014, and that number rose to $54.4 for 2016.

Despite VCEL shares losing over 12% during the past month, the biotechnology shares still are up over 43% year-to-date, and are up around 100% for the year. Of the four investment firms that follow Vericel Corp (NASDAQ:VCEL), three rate VCEL shares as a “Strong Buy” while one rates the shares as a “Buy”. Their consensus, one-year price target is $6.34.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $VCEL and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

TOP SHIPS Inc. (NASDAQ:TOPS)

Is TOP SHIPS Inc. (NASDAQ:TOPS) Sell-Off Over? Or Restarting?

TOP SHIPS Inc. (NASDAQ:TOPS)

TOP SHIPS Inc. (NASDAQ:TOPS) was a big mover in Monday’s trading session even as the shipping company continued to face a wave of class action lawsuits and SEC Subpoenas. The stock was up by 133% after gaining nearly 150% on Friday.

TOP SHIPS Inc. (NASDAQ:TOPS)

The breathtaking rallies have helped strengthen the share price after the NASDAQ Capital Market hit the company with a non-compliance notice last month. The stock is currently trading above $1, needed for continued listing in the exchange. However, it needs to trade above the minimum requirement for a minimum of 10 days if it is to regain compliance.

Since the start of the month, TOP SHIPS Inc. (NASDAQ:TOPS) has gained more than 250% in market value after bouncing back from all-time lows. However, the stock still has a long way to go as it is still a shadow of itself, given that it was trading at, after taking share dilution into account, $36,540 as early as January.

TOPS Stock Dilution Impact

Investor sentiments on the stock took a hit after it emerged that the company’s CEO Evangelos J. Pistiolis might have engaged in a series of manipulative share issuance/sales transactions with Kalani Investments Limited. A number of law firms allege that the CEO caused the company to sell shares and securities convertible into common shares at significant market price.

Kalani Investments reportedly went on to resell the shares into the market – a move that law firms allege caused Top Ships share price to drastically decline. Top Ships went on to carry out a number of reverse stock splits in a bid to shore up the stock price. The same pattern of transactions occurred more than once according to Lundin Law P.C

“While Top Ships was engaging in these transactions, the Company failed to disclose the true purpose of the transactions and related stock issuances and reverses – to finance related-party transactions and acquisitions that primarily benefited Mr. Pistiolis and his related companies,” Lundin Law PC in a statement.

By August, TOP SHIPS Inc. (NASDAQ:TOPS) had reportedly issued tens of millions of shares through Kalani, vastly diluting existing shareholders. In its lawsuit, Lundin Law PC alleges that a good chunk of proceeds from the offering went on to enrich Mr. Pistiolis and his affiliates.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $TOPS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

NASDAQ:ONCS

Is OncoSec Medical Inc. (NASDAQ:ONCS) A Buy?

OncoSec Medical Inc. (NASDAQ:ONCS)

Shares of OncoSec Medical Inc. (NASDAQ:ONCS) traded lower following the posting of better than expected fourth quarter and full year financial results. The stock was down by 3.79% in Monday’s trading session, to end the day at $1.27 a share.

OncoSec Medical Inc. (NASDAQ:ONCS)

ONCS Stock Performance

OncoSec Medical Inc. (NASDAQ:ONCS) has gained more than 30% in market value over the past month. The impressive run has seen the stock trade above January’s trading levels after erasing a good chunk of losses accrued for the better part of the year. The stock faces immediate resistance at the $1.30 mark, above which it could make a push for the $1.52 mark.

Renewed investor interest in the stock follows the announcement that the company has made significant progress in the development of its lead clinical program ImmunoPulse IL-12. The company is developing the program for the treatment of metastatic melanoma.

During the fourth quarter, the biotechnology company presented positive Phase 2 data of ImmunoPulse IL-12, in combination with pembrolizumab.

“Our organization remains focused on advancing our PISCES/KEYNOTE-695 registration-directed trial to address this significant unmet medical need through an innovative accelerated pathway,” said CEO, Punit Dhillon.

OncoSec Q4 Financial Results

In addition to progress on the clinical development front, OncoSec Medical Inc. (NASDAQ:ONCS) is also working on trimming its net loss as it eyes positive cash flow. For the three months ended July 31, 2017, the company generated a net loss of (-$5.8) million, down from (-$6.6) million reported last year. Net loss for the full year dropped to ($21.4) million from ($26.9) million.

OncoSec Medical Inc. (NASDAQ:ONCS) attributes the decrease in net loss to a $2.2 million decrease in non-cash, stock-based compensation expense and a $1.8 million decrease in Research and Development Expense. The company did not generate any revenue in the fourth quarter and full year.

The biotechnology company exited the fourth quarter with $11.4 million in cash and cash equivalent, down from $28.7 million as of July 31, 2016. The funds should finance the company’s operations through the third quarter of FY2018.

Last Month OncoSec Medical Inc. (NASDAQ:ONCS) closed a $7.1 million direct offering of 5.3 million shares of common stock, priced at $1.34 a share. The company also issued warrants for the purchase of additional shares at an exercise price of $1.25 a share.

OncoSec intends to use net proceeds of about $6.2 million for working capital and general corporate purposes such as the PISCES/KEYNOTE-695 study, among other clinical, research and development activities.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ONCS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Vascular Biogenics Ltd (NASDAQ:VBLT)

Vascular Biogenics Ltd (NASDAQ:VBLT) Signs Licensing Agreement

Vascular Biogenics Ltd (NASDAQ:VBLT)

Shares of Vascular Biogenics Ltd (NASDAQ:VBLT) gained 4.88% after the clinical stage biotechnology company announced the signing of an exclusive licensing agreement with NanoCarrier Co Ltd. The agreement is for the development and commercialization of ofranergene obadenovec (“VB-111”), an anti-angiogenic gene therapy.

Vascular Biogenics Ltd (NASDAQ:VBLT)

NanoCarrier Licensing Agreement

Under the terms of the agreement, NanoCarrier will develop and commercialize VB-111 for all indications. The company will also be responsible for all regulatory and other clinical activity necessary for VB-111 commercialization in Japan.

In return, Vascular Biogenics Ltd (NASDAQ:VBLT) is to receive an upfront payment of $15 million. It also stands to generate in excess of $100 million in development and commercial milestone payments. The company is also entitled to tiered royalties on net sales.

According to Chief Executive Officer, Dror Harats, the licensing agreement provides further validation of the potential of VB-111.

“Japan is potentially a large market opportunity for VBLT, and this agreement provides us with access to this important market as we continue to prepare for commercialization of VB-111 in recurrent glioblastoma (rGBM), and in other indications,” said Dror Harats, M.D., chief executive officer of VBL Therapeutics,” said Mr. Harats.

Vascular Biogenics Ltd (NASDAQ:VBLT) is currently trading at a key resistance level, above which it could make a push for its 52-week high of $7.35 a share. For the full year, the stock is up by more than 30% as it continues to trade in a strong uptrend.

Modiin Gene Manufacturing Plant

Separately, Vascular Biogenics Ltd (NASDAQ:VBLT) has opened a new gene therapy and manufacturing plant in Modiin Israel. The plant will be used to produce the company’s lead product candidate VB-111. The Facility is the first commercial-scale gene therapy plant and one of the largest in the world.

“The inauguration of the new facility represents a major milestone for VBL. Investing in the appropriate infrastructure is critical as we complete the necessary pre-launch activities for VB-111 and evolve from a small biotech enterprise into an integrated biopharma company,” said Ben Shapiro M.D Chairman of VBL Therapeutics.

The Modiin gene therapy manufacturing plant is capable of manufacturing a capacity of 1,000 liters scalable to 2,000 liters. The opening of the facility marks an important milestone as Vascular Biogenics Ltd (NASDAQ:VBLT) prepares for potential regulatory approval and commercialization of VB-111.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $VBLT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Medical Transcription Billing Corp (NASDAQ:MTBC)

Medical Transcription Billing Corp (NASDAQ:MTBC)’s Net Loss

Medical Transcription Billing Corp (NASDAQ:MTBC)

Shares of Medical Transcription Billing Corp (NASDAQ:MTBC) fell 24.56% after the provider of cloud-based healthcare IT solutions reported Q3 financial results that showed a net loss for the first nine months of the year. However, the company reported a 50% revenue increase for the same period.

Medical Transcription Billing Corp (NASDAQ:MTBC)

Revenue Growth

According to the Chief Executive Officer, Mahmud Haq, revenue growth for the first nine months of the year set the company on course for record annual revenue. In additional to revenue growth, Medical Transcription Billing Corp (NASDAQ:MTBC)’s balance sheet received a boost in the quarter.

“Since our last earnings call, we fully repaid the balance of our $10 million credit facility with Opus Bank (“Opus”) two years prior to the original maturity date, paid Prudential the remaining $5 million plus interest owed for the MediGain acquisition, and raised capital in a way that didn’t dilute our common shareholders,” said Mr. Haq.

Medical Transcription Billing Corp (NASDAQ:MTBC) is still trading in an uptrend despite losing nearly a quarter of its total market value. For the full year, the stock is up by more than 200%. Monday’s sell-off could be a minor correction pending a major move on the upside.

For the Three months ended September 30, 2017, Medical Transcription Billing Corp generated revenues of $7.5 million, representing a 41% year-over-year increase. The company attributes the increase to the MediGain acquisition. Revenue for the first nine months came in at $23.5 million.

Net Loss

Net loss stood at (-$980,000) an improvement from a net loss of (-$1.7) million reported in the second quarter.

“The $714,000 improvement in our GAAP net loss from last quarter was due to a $780,000 reduction in amortization expense,” said Bill Korn, MTBC Chief Financial Officer. Net loss for the first nine months of the year increased to ($5.4) million from (-$4.8) million.

Medical Transcription Billing Corp (NASDAQ:MTBC) attributes the wider than expected net loss to non-cash amortization and depreciation expense of $3.6 million. The company also incurred restructuring charges in relation to the closing of offices in Poland and Bangalore, India and shifting of teams in Pakistan and Sri Lanka.

Medical Transcription Billing Corp (NASDAQ:MTBC) exited the third quarter with $2.8 million in cash and positive working capital, representing $5 million improvement.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $MTBC and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Egalet Corp (NASDAQ:EGLT) Tablets Receives Coverage

Egalet Corp (NASDAQ:EGLT)

Egalet Corp (NASDAQ:EGLT) gained 7.81% after announcing that a large payer will provide coverage of ARYMO ER oral use tablets, for its Medicare Part D members. The new coverage which will target about 1.4 million patients, will include all Egalet Brands, and takes immediate effect.

Egalet Corp (NASDAQ:EGLT) Tablets Receives Medicare Coverage

According to Chief Commercial Officer, Patrick Shea, providing coverage is important, given the high incidence of chronic pain in the population. Arymo ER is an extended morphine product with abuse-deterrent features for severe pain management, requiring constant opioid treatment.

“Formulary coverage within this particular payer’s Medicare Part D population comes sooner than we had expected, and is a promising development at this stage of our commercial launch of our abuse-deterrent, ER morphine, ARYMO ER,” said Mr. Shea.

Egalet Corp (NASDAQ:EGLT) has underperformed the specialty pharmaceutical space this year. The stock is down by more than 80% for the year, as it continues to trade in a downtrend. However, senior Biotechnology analysts at Zack’s Research, John Vandermosten, remains optimistic about EGLT’s prospects amidst the stock’s sell-off.

Analyst’s Focus

Analysts initiated coverage of the stock with a price target of $6, based on estimates of three key growth products. According to the analyst, Egalet Corp (NASDAQ:EGLT)’s pain management products have the potential to generate substantial value in the $24 to $40 billion opioid pain relief market.

According to the analyst, an 81% increase in second-quarter revenue provides an insight of what could be at stake with the three products. Vandermosten and his team expect double-digit growth over the next few years to drive revenues to over $100 million. The increase should lead to first positive earnings.

Egalet Corp (NASDAQ:EGLT) has also forged a number of relationships – including one with a payor with over 24 million clients and another one with Ascend Therapeutics. These partners are expected to lead to high growth rates going forward.

Egalet Corp (NASDAQ:EGLT) has the financial muscle needed to accelerate sales of its three primary products. The specialty pharmaceutical company exited the second quarter with $87 million in its cash balance after it conducted an equity offering where it raised $30 million. The current cash levels are more than sufficient to support the business until 2020.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
Don’t miss out! Stay informed on $EGLT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Ceragon Networks Ltd (NASDAQ:CRNT)

Ceragon Networks Ltd (NASDAQ:CRNT) Stock Falls on Earnings Announcement

Ceragon Networks Ltd (NASDAQ:CRNT)

Ceragon Networks Ltd (NASDAQ:CRNT) shares were down 11% after the wireless backhaul solution provider reported Q3 2017 net income of $3.5 million, or $0.04 cents per share. Revenue came in at $76 million. CRNT shares closed at $1.85 – just $0.26 above the stock’s published book value.

Ceragon Networks Ltd (NASDAQ:CRNT)

Ceragon Networks Ltd (NASDAQ:CRNT) provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice, data, and multimedia services globally. Ceragon’s offerings utilize microwave technology to transfer telecommunication traffic between base stations, and the core of the service provider’s network. Their clients include wireless service providers, public safety organizations, government agencies and utility companies.

Over two months ago, its FibeAir IP-20 Platform was selected by a Southeast Asia wireless service provider to expand and modernize its nationwide 450MHz low-band high coverage CDMA network to a 4G-LTE network. Even so, the market did not move the shares higher on the news. Instead, CDMA shares actually lost ground over the next three days.

CRNT Stock Performance

Earnings have been erratic for the telecommunications firm. In 2012 the company lost (-$0.64) per share and followed that loss in 2013 with a loss of (-$1.23), and a loss of (-$1.22) in 2014. For 2015, the company posted a per share profit of $0.01 and last year that figure improved to $0.15.

Interestingly, the positive earnings trend comes alongside a decline in reported sales. In 2014 the posted sales figure was $371.1 million, followed by $349.4 million in 2015, and $293.6 million in 2016.

Three investment firms follow Ceragon Networks Ltd (NASDAQ:CRNT). Two rate CRNT shares as a “Hold”, while one rates the shares a “Buy”. Their consensus one-year price target is $2.50.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
Don’t miss out! Stay informed on $CRNT and receive breaking news on other hot stocks by signing up for our free newsletter!
About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Cerecor Inc (NASDAQ:CERC) Threatening New Highs

Cerecor Inc (NASDAQ:CERC)

The uptrend, that began in August, continues for Cerecor Inc (NASDAQ:CERC) stock as it looks to close at its second highest level in a year on heavy volume. The market sent shares higher after the biotechnology company released Q3 earnings this morning.

Cerecor Inc (NASDAQ:CERC)
Cerecor Inc (NASDAQ:CERC) is a biopharmaceutical company that develops drug candidates to address the needs of patients with neurologic and psychiatric disorders. Cerecor’s lead drug candidate is CERC-301, which Cerecor currently intends to explore as a treatment for orphan neurological indications. Cerecor is also developing two pre-clinical stage compounds, CERC-611 and CERC-406.

Cerecor Earnings

Cerecor, headquartered in Baltimore, MD, reported Q3 net income of $18.7 million, or $0.52 per common share, compared to a net loss of (-$6.2) million, or (-$0.70) loss per common share, for the third quarter 2016. The company reported $0.52 income per diluted common share, compared to (-$0.70) loss per diluted common share for the same period last year. Cerecor posted $25 million in license and other revenue from the sale of CERC-501 to Janssen this past August.
Q3 2017 general and administrative expenses increased to $2.2 million, compared to $1.7 million for Q3 2016. This increase was driven primarily by expenses associated with the August sale of CERC-501. As of September 30, 2017, cash and cash equivalents were $24.0 million, escrowed cash receivable was $3.75 million and current liabilities were $4.8 million.

CERC Stock Performance

Cerecor Inc (NASDAQ:CERC) shares began an uptrend after the $25 million sale of CERC-501 to Janssen Pharmaceuticals. Over the past quarter, CERC stock is up over 88%. However CERC shares were trading over $5 at the end of last year, and the drop from those levels is seen in the (-70%) performance over the past year.
Annual earnings have been disappointing for shareholders. In 2014 there was an EPS loss of (-$0.41), followed in 2015 by (-$1.22) loss, and a loss of (-$1.87) for 2016.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CERC and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

SAExploration Holdings, Inc. (NASDAQ:SAEX) at Top of Sector Performance

SAExploration Holdings, Inc. (NASDAQ:SAEX)

SAExploration Holdings, Inc. (NASDAQ:SAEX) stock is up over 12.5% in early trading on a volume six times higher than the pro-rated daily average. This morning, SAEX shares are the best performers in the “Oil & Gas Equipment & Services” sector.

SAExploration Holdings, Inc. (NASDAQ:SAEX)

SAExploration Holdings, Inc. (NASDAQ:SAEX), headquartered in Houston TX, is an oilfield services company offering vertically-integrated seismic data acquisition and logistical support services in remote and complex environments. SAE operates crews around the world, performing major projects for major integrated oil companies, national oil companies, and large independent oil and gas exploration companies. Operations are supported through a presence in Houston, Alaska, Canada, Peru, Colombia, Bolivia, Brazil, and New Zealand.

Circumstances, possibly hurricane related, forced the company to reschedule its Q2 2017 earnings report for almost three weeks. However, last week the company announced plans to release its unaudited consolidated Q3 2017 financial results on Wednesday, November 8, 2017 after close of trading.

SAEX Stock Performance

With a market capitalization of $18 million, SAExploration Holdings, Inc. (NASDAQ:SAEX) is considered a nano-cap company. However, as a company in the energy sector, it has a large operating cashflow in the neighborhood of $160 million annually.

Earnings have been historically poor for the company. After posting a per share profit of $234.59 in 2012, they followed that stellar performance up with an EPS loss of (-$283.89) in 2013, and (-$383.52) in 2014. Those massive losses were followed by smaller EPS losses of (-$84.55) in 2015, and (-$6.13) in 2016. In 2016, the company also increased the number of outstanding shares, and diluted shareholder equity, from 120,000 to 4.08 million.

Institutions have decreased their shareholdings in SAEX stock by over 30%. Year-to-date, the stock is down almost 75%.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $SAEX and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP)

High Hopes for Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Earnings

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP)

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) shares are 8.5% higher in early trading on a volume over 20 times larger than the daily average. Speculation is that traders are bidding up the price of the stock in front of their Q3 earnings report, due before the market opens tomorrow, in hopes that it will be a repeat of their Q2 report that saw massive increases in net revenues compared to the same period in 2016. Net revenues for Q2 2017 were reported up 125% compared to Q2 2016 and up 38% from Q1 2017.

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP)

Dry-Bulk Shipping Rates

Also at play are higher bulk shipping rates that could lend support to such speculation. According to Seatrade Maritime News, “The Baltic Dry Index (BDI) achieved a three-year high at 1,588 last Tuesday [October 24, 2017], thanks to the rally seen among the industrial commodities.” However, interested parties should not that the article finishes with the following observation “With downtrend seen across the dry bulk rates, one wonders if the BDI can continue to push for further height again. However, the freight rates are still in the strong position currently with the support of the commodities prices rally. Perhaps, the market may see another upswing with the return of the traders from the Coaltrans conference.”

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) is an Glyfada, Greece based shipping company that owns and operates dry bulk shipping assets. Seanergy currently owns eleven dry bulk carriers, consisting of nine Capesizes and two Supramaxes, with a combined cargo-carrying capacity of approximately 1,682,582 dwt and an average fleet age of about 8.4 years. The company operates internationally and is incorporated in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong.

SHIP Stock Performance

From 2012 until the end of 2014, the number of outstanding SHIP shares was stable. Then in 2015 the number increased to 10.77 million, then increased in 2016 to 20.55 million. Such actions heavily dilute shareholder equity and are a likely factor with the resistance of long-term investors to embrace the stock.

Investors have also not been keen on the erratic annual sales figures. In 2012, Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) posted a sales figure of $55.6 billion. In the years that followed the annual sale figures were, in billions of $USD, $23.1, $2.0, $11.2, and $34.7.

Analysts have a consensus, one-year price target on SHIP of $2.00.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $SHIP and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.