Short Interest in Okeanis Eco Tankers Corp. (NYSE:ECO) Increases By 36.7%

Okeanis Eco Tankers Corp. (NYSE:ECO) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 217,200 shares, a growth of 36.7% from the December 15th total of 158,900 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily volume of 190,300 shares, the short-interest ratio is currently 1.1 days.

Okeanis Eco Tankers Stock Down 1.0 %

ECO stock opened at $23.61 on Friday. The company has a market capitalization of $760.01 million and a P/E ratio of 6.50. Okeanis Eco Tankers has a 12 month low of $18.79 and a 12 month high of $36.69. The firm’s fifty day simple moving average is $22.02 and its 200-day simple moving average is $27.86. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.36. The company had revenue of $84.93 million for the quarter, compared to the consensus estimate of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. As a group, equities research analysts forecast that Okeanis Eco Tankers will post 3.19 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.62%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s payout ratio is presently 48.48%.

Institutional Trading of Okeanis Eco Tankers

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth about $206,000. Marshall Wace LLP acquired a new position in Okeanis Eco Tankers in the 2nd quarter worth about $247,000. BBR Partners LLC purchased a new position in Okeanis Eco Tankers during the third quarter worth approximately $326,000. Acadian Asset Management LLC acquired a new stake in Okeanis Eco Tankers in the second quarter valued at approximately $370,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Okeanis Eco Tankers in the third quarter valued at approximately $383,000.

Analyst Ratings Changes

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

About Okeanis Eco Tankers

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.