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

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) was the target of a significant increase in short interest during the month of 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. Approximately 4.1% of the shares of the company are short sold. Based on an average trading volume of 190,300 shares, the short-interest ratio is currently 1.1 days.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several large investors have recently bought and sold shares of ECO. Public Employees Retirement System of Ohio acquired a new position in Okeanis Eco Tankers in the third quarter valued at about $383,000. Jane Street Group LLC bought a new position in Okeanis Eco Tankers during the 3rd quarter worth about $206,000. Wexford Capital LP raised its stake 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 valued at $728,000 after purchasing an additional 1,472 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Okeanis Eco Tankers in the third quarter valued at about $1,169,000. Finally, PDT Partners LLC boosted its position in shares of Okeanis Eco Tankers by 61.5% during the third quarter. PDT Partners LLC now owns 20,254 shares of the company's stock worth $663,000 after buying an additional 7,715 shares during the period.

Okeanis Eco Tankers Price Performance

NYSE:ECO traded down $1.35 during mid-day trading on Thursday, hitting $23.91. The company's stock had a trading volume of 164,131 shares, compared to its average volume of 286,629. Okeanis Eco Tankers has a fifty-two week low of $18.79 and a fifty-two week high of $36.69. The company has a market capitalization of $769.76 million and a price-to-earnings ratio of 6.61. The stock has a fifty day moving average of $22.06 and a 200-day moving average of $27.96. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.36. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. The firm had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. As a group, equities analysts forecast that Okeanis Eco Tankers will post 3.19 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders 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 yield of 7.53%. Okeanis Eco Tankers's payout ratio is 48.48%.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their price target 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.

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.