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

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) saw a large increase in short interest in 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 trading volume, of 190,300 shares, the short-interest ratio is currently 1.1 days. Approximately 4.1% of the company's stock are sold short.

Analyst Ratings Changes

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

Okeanis Eco Tankers Stock Up 2.0 %

Shares of NYSE:ECO traded up $0.49 during trading on Monday, reaching $24.68. 92,282 shares of the stock traded hands, compared to its average volume of 252,237. The stock has a market cap of $794.45 million and a P/E ratio of 6.80. 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 stock has a 50-day moving average of $21.92 and a two-hundred day moving average of $27.28. Okeanis Eco Tankers has a 52-week low of $18.79 and a 52-week high of $36.69.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.36. The business had revenue of $84.93 million during the quarter, compared to analyst estimates of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. As a group, sell-side analysts expect that Okeanis Eco Tankers will post 3.13 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 7.29%. Okeanis Eco Tankers's dividend payout ratio is presently 48.48%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Institutional investors and hedge funds have recently modified their holdings of the company. Wexford Capital LP boosted its position in Okeanis Eco Tankers by 7.1% in the third 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. Jane Street Group LLC bought a new stake in Okeanis Eco Tankers during the third quarter valued at approximately $206,000. Marshall Wace LLP purchased a new stake in Okeanis Eco Tankers during the second quarter valued at approximately $247,000. PDT Partners LLC raised its position in Okeanis Eco Tankers by 61.5% in the third 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 period. Finally, BBR Partners LLC purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth $326,000.

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.