Insider Selling: United Maritime (NASDAQ:USEA) Insider Sells 5,000 Shares of Company Stock

United Maritime Corporation (NASDAQ:USEA) insider Stavros Gyftakis sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $2.69, for a total value of $13,450.00. Following the transaction, the insider directly owned 241,678 shares of the company’s stock, valued at approximately $650,113.82. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

United Maritime Price Performance

USEA traded down $0.06 during midday trading on Wednesday, hitting $2.61. 173,235 shares of the company traded hands, compared to its average volume of 77,895. The business has a 50 day simple moving average of $2.81 and a two-hundred day simple moving average of $2.53. United Maritime Corporation has a 52-week low of $1.42 and a 52-week high of $3.20. The company has a market capitalization of $24.90 million, a price-to-earnings ratio of -13.05 and a beta of 0.82. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45.

United Maritime (NASDAQ:USEA) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.12. The firm had revenue of $9.99 million during the quarter, compared to the consensus estimate of $9.80 million. United Maritime had a negative net margin of 5.07% and a positive return on equity of 2.31%.

United Maritime Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 15.3%. United Maritime’s dividend payout ratio is presently -200.00%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of United Maritime in a research note on Monday, August 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, United Maritime currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On United Maritime

An institutional investor recently bought a new position in United Maritime stock. NewEdge Advisors LLC acquired a new stake in shares of United Maritime Corporation (NASDAQ:USEA) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 26,332 shares of the company’s stock, valued at approximately $53,000. NewEdge Advisors LLC owned approximately 0.28% of United Maritime at the end of the most recent quarter. 1.63% of the stock is owned by hedge funds and other institutional investors.

About United Maritime

United Maritime Corporation is a global shipping company focused on the ownership and operation of oceangoing vessels. The company’s activities primarily center on transporting dry bulk commodities and petroleum products through a fleet of dry bulk carriers and tankers.

Its dry bulk vessels serve international trade in commodities such as iron ore, coal, grain and other raw materials, while its tanker operations support the transportation of crude oil and refined petroleum products. United Maritime charters its vessels to customers and commercial counterparties in global shipping markets.

The company is incorporated in the Marshall Islands and operates from Greece, serving international routes and markets.