Why Seanergy Maritime Holdings (SHIP) Stock Is Surging Today

NEW YORK (TheStreet) -- Shares of Seanergy Maritime Holdings Corp. (SHIP) are up 15.13% to $1.75 after it reported first quarter results with net income soaring to $83.5 million or $6.98 per share, up from $1.1 million or 9 cents per share in the same period a year ago, due to a gain of $85.5 million that was realized on the sale of four vessels sold during the quarter.

Net revenues in the first quarter were equal to $2 million, compared to $5.6 million in the same quarter in 2013, reflecting the a smaller fleet.

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