Short Interest in Okeanis Eco Tankers Corp. (NYSE:ECO) Declines By 13.8%

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

Okeanis Eco Tankers Trading Down 10.8 %

Shares of ECO traded down $2.25 during mid-day trading on Friday, reaching $18.58. The company had a trading volume of 403,929 shares, compared to its average volume of 134,096. The stock has a market cap of $598.00 million, a price-to-earnings ratio of 5.50 and a beta of 0.04. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 1.46. The firm has a fifty day simple moving average of $22.62 and a 200-day simple moving average of $24.74. Okeanis Eco Tankers has a fifty-two week low of $18.15 and a fifty-two week high of $36.69.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.19. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. The firm had revenue of $85.19 million during the quarter, compared to the consensus estimate of $82.46 million. On average, sell-side analysts anticipate that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

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Okeanis Eco Tankers Cuts Dividend

The business 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. This represents a $1.40 annualized dividend and a yield of 7.54%. The ex-dividend date of this dividend was Monday, March 3rd. Okeanis Eco Tankers's dividend payout ratio (DPR) is presently 41.42%.

Wall Street Analyst Weigh In

Separately, B. Riley reduced 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, January 15th.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Okeanis Eco Tankers by 409.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company's stock valued at $661,000 after buying an additional 16,280 shares during the last quarter. PDT Partners LLC boosted its stake in Okeanis Eco Tankers by 61.5% during the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company's stock valued at $663,000 after acquiring an additional 7,715 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Okeanis Eco Tankers during the 3rd quarter worth $1,169,000. Wexford Capital LP increased its position in shares of Okeanis Eco Tankers by 7.1% in the 3rd quarter. Wexford Capital LP now owns 22,204 shares of the company's stock worth $728,000 after purchasing an additional 1,472 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Okeanis Eco Tankers in the 3rd quarter valued at about $206,000.

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.