United Maritime (NASDAQ:USEA) Trading 1.1% Higher – Here’s Why

Shares of United Maritime Co. (NASDAQ:USEA) rose 1.1% during mid-day trading on Thursday . The company traded as high as $1.85 and last traded at $1.85. Approximately 12,841 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 38,596 shares. The stock had previously closed at $1.83.

United Maritime Price Performance

The company has a 50-day moving average of $1.87 and a 200 day moving average of $2.27. The firm has a market cap of $16.20 million, a P/E ratio of -7.04 and a beta of 0.52. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.46 and a current ratio of 0.47.

United Maritime (NASDAQ:USEA) last announced its quarterly earnings results on Tuesday, November 26th. The company reported ($0.06) earnings per share (EPS) for the quarter. United Maritime had a negative net margin of 4.96% and a negative return on equity of 2.76%.

United Maritime Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.30 annualized dividend and a yield of 16.39%. United Maritime’s dividend payout ratio (DPR) is -115.38%.

Institutional Investors Weigh In On United Maritime

An institutional investor recently raised its position in United Maritime stock. Renaissance Technologies LLC grew its stake in shares of United Maritime Co. (NASDAQ:USEA) by 27.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,914 shares of the company’s stock after buying an additional 20,514 shares during the period. Renaissance Technologies LLC owned approximately 1.10% of United Maritime worth $249,000 as of its most recent filing with the Securities and Exchange Commission. 1.63% of the stock is currently owned by hedge funds and other institutional investors.

United Maritime Company Profile

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.