Okeanis Eco Tankers (NYSE:ECO) Rating Lowered to “Hold” at Zacks Research

Okeanis Eco Tankers (NYSE:ECO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Clarkson Capital raised Okeanis Eco Tankers to a “hold” rating in a research note on Friday, November 14th. UBS Group lowered shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. B. Riley raised their price objective on Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.00.

Okeanis Eco Tankers Trading Up 4.4%

Okeanis Eco Tankers stock opened at $40.50 on Monday. Okeanis Eco Tankers has a 12-month low of $17.91 and a 12-month high of $40.55. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 16.95 and a beta of 0.05. The firm has a 50 day moving average of $35.67 and a 200 day moving average of $30.30. The company has a current ratio of 2.00, a quick ratio of 1.69 and a debt-to-equity ratio of 1.33.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. The business had revenue of $90.60 million for the quarter, compared to analysts’ expectations of $51.29 million. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%. As a group, research analysts predict that Okeanis Eco Tankers will post 1.34 earnings per share for the current year.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several large investors have recently modified their holdings of ECO. Quarry LP purchased a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at approximately $29,000. BNP Paribas Financial Markets purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $25,000. State of Wyoming purchased a new stake in Okeanis Eco Tankers during the 2nd quarter worth about $107,000. Verition Fund Management LLC purchased a new stake in Okeanis Eco Tankers in the 3rd quarter worth approximately $211,000. Finally, S.E.E.D. Planning Group LLC acquired a new stake in shares of Okeanis Eco Tankers in the third quarter worth approximately $234,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.