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

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

Analyst Ratings Changes

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, January 15th.

Okeanis Eco Tankers Trading Up 3.2 %

Shares of ECO stock opened at $23.65 on Thursday. Okeanis Eco Tankers has a 1 year low of $18.79 and a 1 year high of $36.69. The company’s fifty day simple moving average is $21.90 and its two-hundred day simple moving average is $27.42. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The stock has a market capitalization of $761.39 million and a price-to-earnings ratio of 6.52.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data 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. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. The company had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. As a group, analysts anticipate that Okeanis Eco Tankers will post 3.13 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.61%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 48.48%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently bought and sold shares of ECO. Quadrature Capital Ltd bought a new position in shares of Okeanis Eco Tankers in the third quarter worth approximately $1,169,000. BNP Paribas Financial Markets grew its stake in Okeanis Eco Tankers by 409.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock worth $661,000 after buying an additional 16,280 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Okeanis Eco Tankers in the 3rd quarter worth $383,000. BBR Partners LLC purchased a new stake in shares of Okeanis Eco Tankers during the 3rd quarter valued at $326,000. Finally, PDT Partners LLC lifted its holdings in shares of Okeanis Eco Tankers by 61.5% during the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock worth $663,000 after acquiring an additional 7,715 shares during the last quarter.

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.