Okeanis Eco Tankers (NYSE:ECO) Sees Unusually-High Trading Volume – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares saw unusually-high trading volume on Monday . Approximately 345,080 shares traded hands during mid-day trading, a decline of 33% from the previous session’s volume of 514,283 shares.The stock last traded at $50.6160 and had previously closed at $51.75.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ECO shares. Weiss Ratings cut shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. B. Riley Financial increased their price objective on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 29th. Clarkson Capital upgraded Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target on the stock in a report on Tuesday, January 27th. Finally, Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.35.

Okeanis Eco Tankers Price Performance

The stock has a fifty day simple moving average of $46.33 and a 200-day simple moving average of $38.44. The company has a market capitalization of $1.99 billion, a PE ratio of 13.65 and a beta of -0.07. The company has a current ratio of 1.50, a quick ratio of 1.39 and a debt-to-equity ratio of 0.82.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, February 18th. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.48. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%.The business had revenue of $91.33 million for the quarter, compared to the consensus estimate of $98.45 million. Equities analysts anticipate that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 annualized dividend and a dividend yield of 12.1%. Okeanis Eco Tankers’s dividend payout ratio is 165.78%.

Institutional Trading of Okeanis Eco Tankers

Several institutional investors and hedge funds have recently made changes to their positions in the company. Militia Capital Partners LP purchased a new stake in Okeanis Eco Tankers in the third quarter valued at approximately $1,024,000. SG Americas Securities LLC grew its position in shares of Okeanis Eco Tankers by 5.4% during the third quarter. SG Americas Securities LLC now owns 443,695 shares of the company’s stock worth $12,987,000 after acquiring an additional 22,906 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at $344,000. Kovack Advisors Inc. purchased a new stake in Okeanis Eco Tankers in the 4th quarter valued at $636,000. Finally, Magnetar Financial LLC purchased a new stake in Okeanis Eco Tankers in the 4th quarter valued at $481,000.

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.