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

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped down before the market opened 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 traded.

Analyst Upgrades and Downgrades

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

Okeanis Eco Tankers Price Performance

The company has a market capitalization of $704.32 million and a P/E ratio of 6.47. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46. The business has a 50 day simple moving average of $22.74 and a 200-day simple moving average of $26.67.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.22 by $0.19. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. The business had revenue of $85.19 million during the quarter, compared to analysts’ expectations of $82.46 million. Analysts predict that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Monday, March 3rd. Okeanis Eco Tankers’s payout ratio is 52.07%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN bought a new position in shares of Okeanis Eco Tankers during the fourth quarter worth approximately $78,000. Jane Street Group LLC bought a new position in shares of Okeanis Eco Tankers during the third quarter valued at $206,000. Aristides Capital LLC bought a new position in Okeanis Eco Tankers during the fourth quarter worth $227,000. Citadel Advisors LLC raised its stake in Okeanis Eco Tankers by 21.7% during the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock worth $279,000 after buying an additional 2,340 shares during the last quarter. Finally, BBR Partners LLC bought a new stake in Okeanis Eco Tankers in the third quarter valued at $326,000.

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.