United Maritime Co. (NASDAQ:USEA) Sees Significant Decrease in Short Interest

United Maritime Co. (NASDAQ:USEA) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 496,900 shares, a decline of 14.7% from the February 28th total of 582,200 shares. Based on an average trading volume of 53,700 shares, the days-to-cover ratio is currently 9.3 days. Currently, 6.8% of the company’s stock are sold short.

Institutional Trading of United Maritime

A hedge fund recently bought a new stake in United Maritime stock. Jane Street Group LLC purchased a new stake in shares of United Maritime Co. (NASDAQ:USEA) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 22,415 shares of the company’s stock, valued at approximately $39,000. Jane Street Group LLC owned approximately 0.25% of United Maritime at the end of the most recent quarter. 1.63% of the stock is currently owned by institutional investors.

United Maritime Trading Down 2.2 %

Shares of USEA opened at $1.33 on Thursday. The stock has a market cap of $11.77 million, a PE ratio of -5.12 and a beta of 0.54. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.47 and a quick ratio of 0.46. United Maritime has a 12 month low of $1.32 and a 12 month high of $2.90. The stock’s 50-day moving average is $1.74 and its two-hundred day moving average is $2.00.

United Maritime Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 27th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, March 27th. United Maritime’s dividend payout ratio (DPR) is -10.26%.

About United Maritime

United Maritime Corporation, a shipping company, offers seaborne transportation services worldwide. It operates a fleet of eight dry bulk vessels comprising three Panamax, three Capesize, and two Kamsarmax vessels with an aggregate cargo-carrying capacity of approximately 922,054 dwt. The company was incorporated in 2022 and is based in Glyfada, Greece.