Okeanis Eco Tankers Corp. (NYSE:ECO) Sees Large Increase 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. Currently, 4.1% of the company’s stock are short sold. Based on an average daily volume of 190,300 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of Okeanis Eco Tankers

A number of institutional investors have recently made changes to their positions in the business. Lighthouse Investment Partners LLC acquired a new stake in Okeanis Eco Tankers in the second quarter worth about $2,086,000. Quadrature Capital Ltd acquired a new stake in Okeanis Eco Tankers in the 3rd quarter worth approximately $1,169,000. BNP Paribas Financial Markets boosted 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 purchasing an additional 16,280 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Okeanis Eco Tankers during the 2nd quarter worth approximately $370,000. Finally, Marshall Wace LLP acquired a new position in Okeanis Eco Tankers during the 2nd quarter valued at approximately $247,000.

Analyst Ratings Changes

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

Okeanis Eco Tankers Price Performance

Shares of ECO 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 50 day moving average price of $22.02 and a 200-day moving average price of $27.86. Okeanis Eco Tankers has a fifty-two week low of $18.79 and a fifty-two week high of $36.69. The stock has a market capitalization of $760.01 million and a PE ratio of 6.50.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.36. The company had revenue of $84.93 million for 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%. Equities analysts predict that Okeanis Eco Tankers will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

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

About Okeanis Eco Tankers

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.