Okeanis Eco Tankers Corp. (NYSE:ECO) Short Interest Up 170.1% in July

Okeanis Eco Tankers Corp. (NYSE:ECO) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 83,200 shares, a growth of 170.1% from the July 15th total of 30,800 shares. Based on an average daily volume of 55,600 shares, the short-interest ratio is currently 1.5 days. Currently, 0.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, B. Riley upped their target price on Okeanis Eco Tankers from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, May 17th.

Institutional Trading of Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in ECO. Hsbc Holdings PLC lifted its holdings in shares of Okeanis Eco Tankers by 123.9% during the second quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock worth $5,692,000 after purchasing an additional 98,528 shares during the period. Lighthouse Investment Partners LLC purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at about $2,086,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Okeanis Eco Tankers in the second quarter worth about $1,767,000. Glenorchy Capital Ltd acquired a new stake in Okeanis Eco Tankers during the fourth quarter worth about $678,000. Finally, Acadian Asset Management LLC purchased a new position in Okeanis Eco Tankers during the second quarter valued at approximately $370,000.

Okeanis Eco Tankers Trading Up 3.3 %

Shares of ECO traded up $1.02 during midday trading on Thursday, hitting $31.52. 66,251 shares of the company’s stock traded hands, compared to its average volume of 53,108. The company has a quick ratio of 1.61, a current ratio of 1.87 and a debt-to-equity ratio of 1.47. The firm has a market cap of $1.01 billion and a PE ratio of 7.53. Okeanis Eco Tankers has a 1 year low of $22.00 and a 1 year high of $36.69. The company’s fifty day moving average is $31.24.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Friday, August 9th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.33. The company had revenue of $111.99 million during the quarter, compared to analysts’ expectations of $100.71 million. Okeanis Eco Tankers had a return on equity of 31.86% and a net margin of 32.84%. On average, equities research analysts anticipate that Okeanis Eco Tankers will post 4.27 EPS for the current year.

Okeanis Eco Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.40 dividend on an annualized basis and a yield of 13.96%. Okeanis Eco Tankers’s dividend payout ratio is currently 105.01%.

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.