Okeanis Eco Tankers (NYSE:ECO) Sees Strong Trading Volume – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-strong trading volume on Friday . Approximately 481,258 shares were traded during mid-day trading, an increase of 95% from the previous session’s volume of 246,729 shares.The stock last traded at $21.99 and had previously closed at $22.44.

Analyst Upgrades and Downgrades

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

Okeanis Eco Tankers Trading Down 2.2 %

The firm has a market cap of $706.22 million and a PE ratio of 6.49. The company’s fifty day moving average price is $22.74 and its two-hundred day moving average price is $26.67. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.22 by $0.19. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.19%. The firm had revenue of $85.19 million during the quarter, compared to analysts’ expectations of $82.46 million. As a group, sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in ECO. BNP Paribas Financial Markets lifted its stake in shares of Okeanis Eco Tankers by 409.9% in the third quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock valued at $661,000 after purchasing an additional 16,280 shares during the period. BBR Partners LLC acquired a new stake in shares of Okeanis Eco Tankers in the third quarter valued at about $326,000. PDT Partners LLC lifted its stake in shares of Okeanis Eco Tankers by 61.5% in the third quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after purchasing an additional 7,715 shares during the period. Quadrature Capital Ltd acquired a new position in Okeanis Eco Tankers during the third quarter worth about $1,169,000. Finally, Wexford Capital LP raised its position in Okeanis Eco Tankers by 7.1% during the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after acquiring an additional 1,472 shares during the last quarter.

About Okeanis Eco Tankers

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.