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

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 229,100 shares, a drop of 13.8% from the February 28th total of 265,800 shares. Approximately 4.3% of the company's shares are short sold. Based on an average daily trading volume, of 224,400 shares, the short-interest ratio is currently 1.0 days.

Okeanis Eco Tankers Trading Up 6.3 %

Shares of ECO traded up $1.16 during trading hours on Monday, hitting $19.70. The stock had a trading volume of 400,564 shares, compared to its average volume of 135,542. The company's fifty day simple moving average is $22.62 and its 200 day simple moving average is $24.62. Okeanis Eco Tankers has a 12-month low of $17.26 and a 12-month high of $36.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.34 and a current ratio of 1.64. The firm has a market cap of $634.22 million, a P/E ratio of 5.83 and a beta of 0.04.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.19. The business had revenue of $85.19 million during the quarter, compared to analysts' expectations of $82.46 million. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. Equities research analysts forecast that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 7.11%. Okeanis Eco Tankers's dividend payout ratio (DPR) is 41.42%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN purchased a new stake in shares of Okeanis Eco Tankers during the 4th quarter valued at about $78,000. Jane Street Group LLC acquired a new position in shares of Okeanis Eco Tankers during the third quarter worth $206,000. B. Riley Wealth Advisors Inc. acquired a new stake in Okeanis Eco Tankers during the 4th quarter valued at $213,000. Aristides Capital LLC purchased a new stake in Okeanis Eco Tankers during the 4th quarter worth $227,000. Finally, Citadel Advisors LLC boosted its position in Okeanis Eco Tankers by 21.7% in the 4th quarter. Citadel Advisors LLC now owns 13,108 shares of the company's stock valued at $279,000 after buying an additional 2,340 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, B. Riley decreased their target price on shares of Okeanis Eco Tankers from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th.

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.