Okeanis Eco Tankers Corp. (NYSE:ECO) Sees Large Growth in Short Interest

Okeanis Eco Tankers Corp. (NYSE:ECO) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 363,700 shares, an increase of 48.6% from the May 15th total of 244,800 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily trading volume, of 148,000 shares, the days-to-cover ratio is currently 2.5 days.

Okeanis Eco Tankers Stock Performance

Okeanis Eco Tankers stock opened at $24.20 on Wednesday. The stock has a market cap of $779.03 million, a P/E ratio of 9.76 and a beta of -0.08. The company has a current ratio of 1.65, a quick ratio of 1.28 and a debt-to-equity ratio of 1.43. The stock has a 50 day moving average of $22.86 and a 200-day moving average of $22.35. Okeanis Eco Tankers has a 52 week low of $17.91 and a 52 week high of $35.64.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Wednesday, May 14th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.24 by $0.12. Okeanis Eco Tankers had a return on equity of 18.89% and a net margin of 22.05%. The company had revenue of $48.60 million during the quarter, compared to analysts’ expectations of $46.91 million. On average, analysts expect that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, June 12th. Investors of record on Wednesday, June 4th were paid a dividend of $0.32 per share. This represents a yield of 9.52%. The ex-dividend date was Tuesday, June 3rd. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 51.61%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in ECO. Wells Fargo & Company MN bought a new stake in Okeanis Eco Tankers in the fourth quarter valued at $78,000. B. Riley Wealth Advisors Inc. bought a new stake in Okeanis Eco Tankers in the fourth quarter valued at $213,000. Aristides Capital LLC bought a new stake in Okeanis Eco Tankers in the fourth quarter valued at $227,000. Citadel Advisors LLC lifted its stake in Okeanis Eco Tankers by 21.7% in 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. Finally, Triumph Capital Management bought a new stake in Okeanis Eco Tankers in the first quarter valued at $440,000.

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.