Okeanis Eco Tankers Corp. (NYSE:ECO) Sees Significant Drop in Short Interest

Okeanis Eco Tankers Corp. (NYSE:ECO) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 229,100 shares, a drop of 13.8% from the February 28th total of 265,800 shares. Based on an average trading volume of 224,400 shares, the days-to-cover ratio is presently 1.0 days. Currently, 4.3% of the company’s stock are sold short.

Okeanis Eco Tankers Stock Down 1.4 %

Shares of ECO stock traded down $0.30 during trading hours on Thursday, reaching $21.41. 162,625 shares of the company’s stock were exchanged, compared to its average volume of 132,009. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 1.46. The company has a market cap of $689.27 million, a price-to-earnings ratio of 6.33 and a beta of 0.04. Okeanis Eco Tankers has a fifty-two week low of $18.79 and a fifty-two week high of $36.69. The stock’s 50 day moving average is $22.76 and its 200-day moving average is $24.87.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.19. The firm had revenue of $85.19 million for the quarter, compared to analyst estimates of $82.46 million. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. Analysts predict that Okeanis Eco Tankers will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend was Monday, March 3rd. Okeanis Eco Tankers’s payout ratio is 41.42%.

Institutional Trading of Okeanis Eco Tankers

Several large investors have recently made changes to their positions in ECO. FIL Ltd boosted its holdings in Okeanis Eco Tankers by 1.3% in the fourth quarter. FIL Ltd now owns 611,929 shares of the company’s stock valued at $12,439,000 after purchasing an additional 8,053 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Okeanis Eco Tankers by 70.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 507,495 shares of the company’s stock worth $10,579,000 after acquiring an additional 209,260 shares during the period. Boston Partners acquired a new position in Okeanis Eco Tankers in the fourth quarter valued at approximately $1,231,000. Walleye Capital LLC purchased a new stake in Okeanis Eco Tankers in the 4th quarter worth approximately $1,144,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $1,169,000.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their price objective on Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.