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

Okeanis Eco Tankers Corp. (NYSE:ECO) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 217,200 shares, a growth of 36.7% from the December 31st total of 158,900 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily volume of 190,300 shares, the short-interest ratio is presently 1.1 days.

Okeanis Eco Tankers Stock Down 1.0 %

Shares of NYSE:ECO opened at $24.10 on Friday. The company has a market capitalization of $775.88 million and a P/E ratio of 6.64. The stock’s fifty day simple moving average is $21.91 and its 200-day simple moving average is $27.37. Okeanis Eco Tankers has a 52-week low of $18.79 and a 52-week high of $36.69. 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 released its quarterly earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.36. The company had revenue of $84.93 million for the quarter, compared to analysts’ expectations of $74.61 million. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. As a group, equities research analysts forecast that Okeanis Eco Tankers will post 3.13 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were issued a $0.45 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.80 annualized dividend and a yield of 7.47%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new position in Okeanis Eco Tankers during the third quarter worth about $1,169,000. BNP Paribas Financial Markets boosted its position 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 worth $661,000 after acquiring an additional 16,280 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Okeanis Eco Tankers in the third quarter worth approximately $206,000. Marshall Wace LLP acquired a new position in Okeanis Eco Tankers during the second quarter worth approximately $247,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Okeanis Eco Tankers during the third quarter worth approximately $383,000.

Analyst Ratings Changes

Separately, B. Riley cut their price objective on 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 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.