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

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

Okeanis Eco Tankers Trading Down 1.0 %

Shares of ECO stock opened at $23.61 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The company has a market capitalization of $760.01 million and a price-to-earnings ratio of 6.50. Okeanis Eco Tankers has a 52-week low of $18.79 and a 52-week high of $36.69. The company has a 50-day simple moving average of $22.02 and a two-hundred day simple moving average of $27.86.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.36. The company had revenue of $84.93 million during the quarter, compared to analyst estimates of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. Research analysts anticipate that Okeanis Eco Tankers will post 3.19 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.62%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s payout ratio is 48.48%.

Wall Street Analyst Weigh In

Separately, B. Riley reduced their target price on shares of Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday.

Hedge Funds Weigh In On Okeanis Eco Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its position in Okeanis Eco Tankers by 123.9% in the second 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 purchased a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $2,086,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $1,767,000. Quadrature Capital Ltd purchased a new position in Okeanis Eco Tankers in the third quarter valued at approximately $1,169,000. Finally, Wexford Capital LP grew 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 purchasing an additional 1,472 shares during the period.

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.