Okeanis Eco Tankers Corp. (NYSE:ECO – Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 504,968 shares, a growth of 183.5% from the May 14th total of 178,101 shares. Based on an average trading volume of 598,612 shares, the short-interest ratio is presently 0.8 days. Currently, 1.3% of the company’s shares are short sold.
Hedge Funds Weigh In On Okeanis Eco Tankers
A number of large investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC bought a new position in Okeanis Eco Tankers in the fourth quarter worth approximately $27,416,000. FIL Ltd raised its position in shares of Okeanis Eco Tankers by 17.2% in the 4th quarter. FIL Ltd now owns 574,182 shares of the company’s stock worth $19,339,000 after acquiring an additional 84,130 shares in the last quarter. Fearnley Asset Management AS bought a new position in shares of Okeanis Eco Tankers in the 4th quarter worth $18,696,000. Marshall Wace LLP bought a new position in shares of Okeanis Eco Tankers in the 4th quarter worth $10,911,000. Finally, Bank of America Corp DE raised its position in shares of Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after acquiring an additional 136,782 shares in the last quarter.
Okeanis Eco Tankers Stock Up 5.7%
NYSE ECO traded up $2.86 on Friday, reaching $52.62. 490,978 shares of the stock traded hands, compared to its average volume of 442,701. Okeanis Eco Tankers has a 12 month low of $21.27 and a 12 month high of $58.45. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 9.30 and a beta of -0.05. The company has a fifty day moving average price of $52.04 and a 200-day moving average price of $45.02. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70.
Okeanis Eco Tankers Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Thursday, May 28th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 annualized dividend and a yield of 15.2%. Okeanis Eco Tankers’s dividend payout ratio is 141.34%.
Wall Street Analyst Weigh In
ECO has been the subject of a number of recent analyst reports. Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective for the company. in a report on Monday, May 25th. B. Riley Financial boosted their price objective on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 15th. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Wall Street Zen cut Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.89.
View Our Latest Report on Okeanis Eco Tankers
Okeanis Eco Tankers Company Profile
Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.
As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.
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