United Maritime Co. (NASDAQ:USEA) Sees Large Increase in Short Interest

United Maritime Co. (NASDAQ:USEA) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 111,700 shares, an increase of 40.5% from the March 15th total of 79,500 shares. Based on an average trading volume of 56,500 shares, the short-interest ratio is currently 2.0 days. Approximately 1.4% of the company’s shares are short sold.

United Maritime Price Performance

Shares of USEA opened at 2.52 on Friday. United Maritime has a 1-year low of 2.01 and a 1-year high of 3.09. The firm has a 50-day simple moving average of 2.69 and a two-hundred day simple moving average of 2.52. The company has a current ratio of 0.36, a quick ratio of 0.35 and a debt-to-equity ratio of 0.85.

United Maritime (NASDAQ:USEA) last announced its quarterly earnings results on Tuesday, February 20th. The company reported -0.07 earnings per share for the quarter. United Maritime had a negative net margin of 0.25% and a positive return on equity of 0.02%. The company had revenue of 11.55 million for the quarter.

United Maritime Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 11.90%. The ex-dividend date of this dividend was Thursday, March 21st. United Maritime’s dividend payout ratio is presently -166.67%.

Institutional Investors Weigh In On United Maritime

A number of institutional investors have recently made changes to their positions in USEA. Acadian Asset Management LLC grew its holdings in shares of United Maritime by 20.7% in the first quarter. Acadian Asset Management LLC now owns 75,764 shares of the company’s stock valued at $216,000 after purchasing an additional 12,968 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of United Maritime in the fourth quarter valued at approximately $145,000. Advisor OS LLC acquired a new position in shares of United Maritime in the fourth quarter valued at approximately $55,000. Finally, MJP Associates Inc. ADV acquired a new position in shares of United Maritime in the fourth quarter valued at approximately $55,000. 1.63% of the stock is currently owned by institutional investors and hedge funds.

United Maritime Company Profile

United Maritime Corporation, a shipping company, offers seaborne transportation services worldwide. It operates a fleet of eight dry bulk vessels comprising three Panamax, three Capesize, and two Kamsarmax vessels with an aggregate cargo-carrying capacity of approximately 922,054 dwt. The company was incorporated in 2022 and is based in Glyfada, Greece.