Okeanis Eco Tankers Corp. (NYSE:ECO) Short Interest Update

Key Points

• Okeanis Eco Tankers Corp. experienced a significant 39.6% drop in short interest in July, with total short interest down to 143,600 shares.
• The company reported strong second-quarter earnings, with earnings per share (EPS) of $0.83 exceeding analysts' expectations by $0.37.
• Okeanis recently announced a substantial $0.70 dividend, representing a yield of 1,080.0%, up from the previous dividend of $0.32.

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 143,600 shares, adropof39.6% from the July 15th total of 237,700 shares. Based on an average daily volume of 132,100 shares, the short-interest ratio is presently 1.1 days. Approximately1.1% of the shares of the stock are short sold. Approximately1.1% of the shares of the stock are short sold. Based on an average daily volume of 132,100 shares, the short-interest ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

ECO has been the subject of several analyst reports. Zacks Research raised shares of Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Jefferies Financial Group started coverage on shares of Okeanis Eco Tankers in a report on Wednesday, July 23rd. They issued a "buy" rating and a $29.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $34.50.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of large investors have recently added to or reduced their stakes in ECO. SG Americas Securities LLC raised its position in Okeanis Eco Tankers by 108.2% in the 2nd quarter. SG Americas Securities LLC now owns 420,789 shares of the company's stock worth $9,144,000 after purchasing an additional 218,717 shares during the period. Semmax Financial Advisors Inc. raised its position in Okeanis Eco Tankers by 210.9% in the 1st quarter. Semmax Financial Advisors Inc. now owns 122,529 shares of the company's stock worth $2,906,000 after purchasing an additional 83,122 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Okeanis Eco Tankers by 56.8% in the first quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company's stock valued at $3,328,000 after acquiring an additional 54,528 shares during the period. Walleye Capital LLC purchased a new position in shares of Okeanis Eco Tankers in the fourth quarter valued at about $1,144,000. Finally, Invesco Ltd. purchased a new position in shares of Okeanis Eco Tankers in the second quarter valued at about $613,000.

Okeanis Eco Tankers Price Performance

Shares of Okeanis Eco Tankers stock traded down $0.2510 on Friday, hitting $27.2690. 102,954 shares of the company traded hands, compared to its average volume of 129,212. The firm's 50-day simple moving average is $23.96 and its 200 day simple moving average is $22.96. The company has a current ratio of 1.96, a quick ratio of 1.65 and a debt-to-equity ratio of 1.36. The company has a market cap of $877.79 million, a P/E ratio of 13.05 and a beta of -0.13. Okeanis Eco Tankers has a 12-month low of $17.91 and a 12-month high of $35.64.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.37. The firm had revenue of $93.95 million for the quarter, compared to analysts' expectations of $56.10 million. Okeanis Eco Tankers had a net margin of 19.52% and a return on equity of 15.81%. Analysts expect that Okeanis Eco Tankers will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 25th will be given a $0.70 dividend. This represents a yield of 1,080.0%. The ex-dividend date is Friday, August 22nd. This is a boost from Okeanis Eco Tankers's previous dividend of $0.32. Okeanis Eco Tankers's dividend payout ratio is 133.97%.

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.