Short Interest in Okeanis Eco Tankers Corp. (NYSE:ECO) Expands By 36.7%

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its stake in Okeanis Eco Tankers by 123.9% during the 2nd quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock worth $5,692,000 after acquiring an additional 98,528 shares during the period. Lighthouse Investment Partners LLC bought a new position in Okeanis Eco Tankers in the 2nd quarter worth $2,086,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Okeanis Eco Tankers in the 2nd quarter worth $1,767,000. Quadrature Capital Ltd purchased a new stake in Okeanis Eco Tankers in the 3rd quarter worth $1,169,000. Finally, Wexford Capital LP raised its holdings in Okeanis Eco Tankers by 7.1% during the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock valued at $728,000 after acquiring an additional 1,472 shares during the period.

Okeanis Eco Tankers Price Performance

NYSE ECO opened at $25.28 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. Okeanis Eco Tankers has a 1-year low of $18.79 and a 1-year high of $36.69. The stock has a market capitalization of $813.86 million and a price-to-earnings ratio of 6.96. The business’s fifty day moving average price is $22.06 and its 200-day moving average price is $27.96.

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, beating analysts’ consensus estimates of $0.09 by $0.36. The business had revenue of $84.93 million during the quarter, compared to the consensus estimate of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. On average, equities analysts predict that Okeanis Eco Tankers will post 3.19 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s payout ratio is 48.48%.

Analyst Ratings Changes

Separately, B. Riley decreased 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 report on Wednesday.

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.