Short Interest in Okeanis Eco Tankers Corp. (NYSE:ECO) Expands By 74.3%

Okeanis Eco Tankers Corp. (NYSE:ECO) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 137,085 shares, an increase of 74.3% from the April 15th total of 78,662 shares. Based on an average daily trading volume, of 413,407 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.4% of the shares of the company are short sold.

Okeanis Eco Tankers Stock Performance

Shares of NYSE ECO traded up $0.43 during mid-day trading on Monday, hitting $55.55. 424,754 shares of the company were exchanged, compared to its average volume of 488,510. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $50.86 and a 200-day simple moving average of $42.93. Okeanis Eco Tankers has a 1-year low of $21.27 and a 1-year high of $58.45. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 9.82 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The firm had revenue of $170.17 million during the quarter, compared to the consensus estimate of $134.02 million. On average, sell-side analysts forecast that Okeanis Eco Tankers will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Thursday, May 28th will be issued a dividend of $2.00 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 annualized dividend and a dividend yield of 14.4%. The ex-dividend date of this dividend is Thursday, May 28th. Okeanis Eco Tankers’s dividend payout ratio is 109.54%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ECO. Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings cut shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday. Clarkson Capital cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, B. Riley Financial lifted their target price on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.02.

Institutional Investors Weigh In On Okeanis Eco Tankers

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers in the second quarter worth $25,000. Fifth Third Bancorp acquired a new position in shares of Okeanis Eco Tankers during the 1st quarter worth $29,000. Quarry LP acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after purchasing an additional 532 shares during the period. Finally, State of Wyoming acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth $107,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.