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

Okeanis Eco Tankers Corp. (NYSE:ECO) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 317,400 shares, a growth of 38.5% from the March 15th total of 229,100 shares. Based on an average daily trading volume, of 231,000 shares, the short-interest ratio is presently 1.4 days. Approximately 6.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several institutional investors and hedge funds have recently bought and sold shares of ECO. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Okeanis Eco Tankers by 70.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 507,495 shares of the company’s stock valued at $10,579,000 after purchasing an additional 209,260 shares during the last quarter. Boston Partners acquired a new position in Okeanis Eco Tankers in the fourth quarter valued at $1,231,000. Jane Street Group LLC purchased a new stake in Okeanis Eco Tankers during the third quarter valued at about $206,000. Public Employees Retirement System of Ohio acquired a new stake in Okeanis Eco Tankers during the third quarter worth about $383,000. Finally, FIL Ltd lifted its stake in shares of Okeanis Eco Tankers by 1.3% in the 4th quarter. FIL Ltd now owns 611,929 shares of the company’s stock valued at $12,439,000 after purchasing an additional 8,053 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Okeanis Eco Tankers Trading Up 2.9 %

Shares of Okeanis Eco Tankers stock opened at $21.45 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.64 and a quick ratio of 1.34. Okeanis Eco Tankers has a 1 year low of $17.91 and a 1 year high of $36.69. The business has a 50 day moving average price of $21.63 and a 200 day moving average price of $23.66. The company has a market capitalization of $690.63 million, a P/E ratio of 6.35 and a beta of 0.04.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The firm had revenue of $85.19 million for the quarter, compared to analyst estimates of $82.46 million. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. Sell-side analysts anticipate that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 6.53%. Okeanis Eco Tankers’s payout ratio is currently 41.42%.

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.