Short Interest in Okeanis Eco Tankers Corp. (NYSE:ECO) Expands By 74.3%

Okeanis Eco Tankers Corp. (NYSE:ECO) saw a large increase in short interest in April. As of April 30th, there was short interest totaling 137,085 shares, an increase of 74.3% from the April 15th total of 78,662 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 413,407 shares, the days-to-cover ratio is presently 0.3 days.

Okeanis Eco Tankers Stock Up 0.8%

Okeanis Eco Tankers stock traded up $0.43 during trading on Monday, reaching $55.55. The stock had a trading volume of 424,754 shares, compared to its average volume of 488,510. Okeanis Eco Tankers has a 52-week low of $21.27 and a 52-week high of $58.45. The business has a 50 day moving average price of $50.86 and a 200 day moving average price of $42.93. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. The stock has a market cap of $2.17 billion, a PE ratio of 9.82 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. The company had revenue of $170.17 million during the quarter, compared to the consensus estimate of $134.02 million. On average, analysts predict that Okeanis Eco Tankers will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Thursday, May 28th will be paid a $2.00 dividend. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 dividend on an annualized basis and a yield of 14.4%. The ex-dividend date is Thursday, May 28th. Okeanis Eco Tankers’s payout ratio is presently 109.54%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp acquired a new position in Okeanis Eco Tankers in the first quarter valued at approximately $29,000. Quarry LP acquired a new position in Okeanis Eco Tankers in the third quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after purchasing an additional 532 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Okeanis Eco Tankers in the second quarter valued at approximately $25,000. Finally, State of Wyoming acquired a new position in Okeanis Eco Tankers in the second quarter valued at approximately $107,000.

Analyst Ratings Changes

Several research firms have weighed in on ECO. Clarkson Capital downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday. Weiss Ratings downgraded Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. Wall Street Zen downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday. B. Riley Financial lifted their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Friday. Finally, Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.02.

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.