Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Time to Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO) gapped down prior to trading on Thursday . The stock had previously closed at $24.07, but opened at $22.36. Okeanis Eco Tankers shares last traded at $22.54, with a volume of 312,582 shares.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their price target on Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Stock Down 6.1 %

The stock has a 50 day moving average price of $22.67 and a 200 day moving average price of $26.70. 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 company has a market capitalization of $727.49 million and a P/E ratio of 6.22.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.19. The firm had revenue of $85.19 million for the quarter, compared to analysts’ expectations of $82.46 million. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. Equities research analysts forecast that Okeanis Eco Tankers Corp. will post 3.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in the company. FIL Ltd boosted its position in Okeanis Eco Tankers by 1.3% during the fourth quarter. FIL Ltd now owns 611,929 shares of the company’s stock worth $12,439,000 after purchasing an additional 8,053 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Okeanis Eco Tankers by 70.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 507,495 shares of the company’s stock worth $10,579,000 after purchasing an additional 209,260 shares during the period. Boston Partners purchased a new position in Okeanis Eco Tankers during the 4th quarter valued at about $1,231,000. Walleye Capital LLC bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter valued at about $1,144,000. Finally, Quadrature Capital Ltd bought a new position in shares of Okeanis Eco Tankers in the third quarter valued at approximately $1,169,000.

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.