Okeanis Eco Tankers Corp. (NYSE:ECO) Short Interest Update

Okeanis Eco Tankers Corp. (NYSE:ECO) saw a significant 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 daily volume of 224,400 shares, the short-interest ratio is currently 1.0 days. Currently, 4.3% of the shares of the stock are short sold.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds have recently made changes to their positions in ECO. Wells Fargo & Company MN bought a new position in Okeanis Eco Tankers in the 4th quarter valued at approximately $78,000. Jane Street Group LLC bought a new position in shares of Okeanis Eco Tankers during the third quarter valued at $206,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at $213,000. Aristides Capital LLC acquired a new position in shares of Okeanis Eco Tankers during the fourth quarter worth $227,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Okeanis Eco Tankers in the third quarter worth $383,000.

Analyst Upgrades and Downgrades

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

Okeanis Eco Tankers Price Performance

NYSE:ECO traded down $0.18 during mid-day trading on Wednesday, reaching $21.58. The stock had a trading volume of 47,572 shares, compared to its average volume of 131,365. The stock has a 50-day simple moving average of $22.79 and a two-hundred day simple moving average of $24.89. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.64 and a quick ratio of 1.34. Okeanis Eco Tankers has a 12 month low of $18.79 and a 12 month high of $36.69. The stock has a market capitalization of $694.65 million, a PE ratio of 6.38 and a beta of 0.04.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results 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 company had revenue of $85.19 million for the quarter, compared to the consensus estimate of $82.46 million. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. On average, equities analysts anticipate that Okeanis Eco Tankers will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 6.49%. Okeanis Eco Tankers’s payout ratio is presently 41.42%.

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.