Okeanis Eco Tankers Corp. (NYSE:ECO) Short Interest Up 183.5% in May

Okeanis Eco Tankers Corp. (NYSE:ECO) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 504,968 shares, a growth of 183.5% from the May 14th total of 178,101 shares. Based on an average daily volume of 598,612 shares, the short-interest ratio is currently 0.8 days. Currently, 1.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in ECO. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers in the second quarter worth approximately $25,000. Fifth Third Bancorp acquired a new position in shares of Okeanis Eco Tankers in the first quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Okeanis Eco Tankers in the third quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 worth $36,000 after acquiring an additional 532 shares during the period. Finally, State of Wyoming bought a new stake in Okeanis Eco Tankers in the second quarter worth approximately $107,000.

Okeanis Eco Tankers Trading Up 5.2%

Shares of ECO stock traded up $2.58 during mid-day trading on Friday, reaching $52.34. 198,500 shares of the stock traded hands, compared to its average volume of 482,235. The stock’s fifty day simple moving average is $52.00 and its two-hundred day simple moving average is $44.97. Okeanis Eco Tankers has a 1-year low of $21.27 and a 1-year high of $58.45. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 9.28 and a beta of -0.05. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75.

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

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were 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 dividend yield of 15.3%. The ex-dividend date of this dividend was Thursday, May 28th. Okeanis Eco Tankers’s payout ratio is presently 141.34%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a research report on Monday, May 25th. Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Wall Street Zen lowered Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Finally, B. Riley Financial lifted their price target on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Okeanis Eco Tankers has an average rating of “Moderate Buy” and an average price target of $51.89.

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.