Okeanis Eco Tankers Corp. (NYSE:ECO) Short Interest Down 18.4% in April

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 259,000 shares, a drop of 18.4% from the March 31st total of 317,400 shares. Based on an average daily trading volume, of 197,800 shares, the days-to-cover ratio is presently 1.3 days. Currently, 4.9% of the company's stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. PDT Partners LLC grew its holdings in Okeanis Eco Tankers by 6.2% during the fourth quarter. PDT Partners LLC now owns 21,504 shares of the company's stock valued at $457,000 after purchasing an additional 1,250 shares during the last quarter. Citadel Advisors LLC raised its position in shares of Okeanis Eco Tankers by 21.7% during the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company's stock valued at $279,000 after buying an additional 2,340 shares during the last quarter. Wells Fargo & Company MN acquired a new stake in Okeanis Eco Tankers during the fourth quarter worth about $78,000. Bank of America Corp DE increased its stake in Okeanis Eco Tankers by 25.9% during the fourth quarter. Bank of America Corp DE now owns 23,307 shares of the company's stock valued at $496,000 after acquiring an additional 4,798 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Okeanis Eco Tankers in the third quarter valued at $206,000.

Analyst Ratings Changes

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

Okeanis Eco Tankers Stock Performance

Shares of Okeanis Eco Tankers stock traded down $0.64 on Wednesday, reaching $23.98. 63,356 shares of the company were exchanged, compared to its average volume of 143,262. Okeanis Eco Tankers has a 1-year low of $17.91 and a 1-year high of $36.69. The firm has a market cap of $771.85 million, a price-to-earnings ratio of 7.10 and a beta of -0.05. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.34 and a current ratio of 1.64. The company's 50-day moving average is $21.67 and its two-hundred day moving average is $22.78.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, topping 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 firm had revenue of $85.19 million for the quarter, compared to analysts' expectations of $82.46 million. As a group, research analysts expect that Okeanis Eco Tankers will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.84%. The ex-dividend date was Monday, March 3rd. Okeanis Eco Tankers's payout ratio is presently 41.42%.

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.