Clarkson Capital Upgrades Okeanis Eco Tankers (NYSE:ECO) to Buy

Okeanis Eco Tankers (NYSE:ECO) was upgraded by equities research analysts at Clarkson Capital from a “neutral” rating to a “buy” rating in a research note issued on Tuesday,Finviz reports. The firm presently has a $46.05 price objective on the stock. Clarkson Capital’s target price would suggest a potential upside of 19.12% from the stock’s previous close.

Other analysts have also issued reports about the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th. B. Riley lifted their target price on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. UBS Group lowered shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Finally, Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $40.02.

Okeanis Eco Tankers Stock Up 1.8%

ECO stock opened at $38.66 on Tuesday. Okeanis Eco Tankers has a 52 week low of $17.91 and a 52 week high of $41.31. The company has a quick ratio of 1.69, a current ratio of 2.00 and a debt-to-equity ratio of 1.33. The firm has a 50-day simple moving average of $36.24 and a 200-day simple moving average of $31.31. The stock has a market capitalization of $1.24 billion, a P/E ratio of 16.18 and a beta of 0.05.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. Okeanis Eco Tankers had a net margin of 21.92% and a return on equity of 18.05%. The firm had revenue of $90.60 million for the quarter, compared to analyst estimates of $51.29 million. Equities analysts forecast that Okeanis Eco Tankers will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in ECO. BNP Paribas Financial Markets acquired a new position in Okeanis Eco Tankers in the second quarter valued at approximately $25,000. Quarry LP acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at $29,000. State of Wyoming acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at $107,000. Verition Fund Management LLC purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth $211,000. Finally, S.E.E.D. Planning Group LLC acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth about $234,000.

Okeanis Eco Tankers Company Profile

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.