United Maritime (NASDAQ:USEA) Shares Up 2.2% – What’s Next?

Shares of United Maritime Corporation (NASDAQ:USEA) shot up 2.2% during mid-day trading on Friday . The company traded as high as $2.79 and last traded at $2.77. Approximately 81,048 shares were traded during mid-day trading, an increase of 47% from the average session volume of 55,113 shares. The stock had previously closed at $2.71.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of United Maritime in a report on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, United Maritime presently has a consensus rating of “Sell”.

United Maritime Price Performance

The business has a fifty day moving average of $2.65 and a two-hundred day moving average of $2.32. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 0.96. The firm has a market capitalization of $26.43 million, a price-to-earnings ratio of -13.85 and a beta of 0.81.

United Maritime (NASDAQ:USEA) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.12. United Maritime had a positive return on equity of 2.31% and a negative net margin of 5.07%.The business had revenue of $9.99 million during the quarter, compared to the consensus estimate of $9.80 million.

United Maritime Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 14.4%. The ex-dividend date is Friday, September 25th. United Maritime’s dividend payout ratio (DPR) is currently -200.00%.

Institutional Trading of United Maritime

Several hedge funds and other institutional investors have recently modified their holdings of USEA. NewEdge Advisors LLC bought a new position in United Maritime in the 1st quarter valued at about $53,000. Elevation Point Wealth Partners LLC bought a new stake in shares of United Maritime during the third quarter worth approximately $56,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of United Maritime by 638.2% during the fourth quarter. Renaissance Technologies LLC now owns 75,300 shares of the company’s stock worth $128,000 after acquiring an additional 65,100 shares during the period. Institutional investors own 1.63% of the company’s stock.

United Maritime Company Profile

United Maritime Corporation is a Marshall Islands–incorporated shipping company that provides seaborne transportation of crude oil and petroleum products. Traded on the NASDAQ under the symbol USEA, the company markets its tanker services to major oil producers, traders and refiners around the world. Its business model combines vessel ownership with time-charter contracts to deliver tailored shipping solutions across the energy supply chain.

The company’s fleet is composed primarily of medium‐ and large‐sized oil tankers, including Aframax and Suezmax vessels.