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

Okeanis Eco Tankers Corp. (NYSE:ECO) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 17,100 shares, a growth of 71.0% from the May 31st total of 10,000 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 43,300 shares, the days-to-cover ratio is presently 0.4 days.

Okeanis Eco Tankers Stock Up 0.5 %

NYSE ECO traded up $0.15 during trading hours on Friday, hitting $32.14. 22,888 shares of the company were exchanged, compared to its average volume of 49,788. The stock has a 50-day moving average price of $33.05. The company has a current ratio of 1.87, a quick ratio of 1.61 and a debt-to-equity ratio of 1.47. Okeanis Eco Tankers has a 52 week low of $20.70 and a 52 week high of $36.69. The stock has a market capitalization of $1.03 billion and a PE ratio of 7.67.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Thursday, May 16th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. Okeanis Eco Tankers had a return on equity of 31.86% and a net margin of 32.84%. The company had revenue of $111.12 million for the quarter, compared to analysts’ expectations of $109.19 million. As a group, sell-side analysts anticipate that Okeanis Eco Tankers will post 4.22 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were paid a dividend of $1.10 per share. This is a boost from Okeanis Eco Tankers’s previous — dividend of $0.66. The ex-dividend date of this dividend was Wednesday, June 5th. Okeanis Eco Tankers’s payout ratio is presently 105.01%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in ECO. Glenorchy Capital Ltd purchased a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at approximately $678,000. Hsbc Holdings PLC purchased a new stake in Okeanis Eco Tankers during the fourth quarter worth $804,000. Finally, Susquehanna International Securities Ltd. purchased a new stake in Okeanis Eco Tankers during the first quarter worth $210,000.

Analyst Ratings Changes

Separately, B. Riley lifted their target price on Okeanis Eco Tankers from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, May 17th.

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.