Okeanis Eco Tankers (NYSE:ECO) Downgraded by Wall Street Zen to “Buy”

Okeanis Eco Tankers (NYSE:ECO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other research firms have also recently issued reports on ECO. B. Riley Financial lifted their price target on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 20th. Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price objective for the company in a research report on Tuesday, January 27th. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Finally, Weiss Ratings upgraded shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $43.35.

Okeanis Eco Tankers Price Performance

NYSE:ECO opened at $46.27 on Friday. The company has a quick ratio of 3.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.97. The firm has a market cap of $1.81 billion, a PE ratio of 12.37 and a beta of -0.29. Okeanis Eco Tankers has a 12 month low of $17.91 and a 12 month high of $57.29. The company’s 50-day moving average price is $44.13 and its two-hundred day moving average price is $36.82.

Okeanis Eco Tankers (NYSE:ECO) last posted its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.48. The company had revenue of $91.33 million during the quarter, compared to analysts’ expectations of $98.45 million. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. On average, equities analysts anticipate that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in shares of Okeanis Eco Tankers by 56.8% in the 1st 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. Invesco Ltd. acquired a new position in Okeanis Eco Tankers during the second quarter valued at approximately $613,000. Lighthouse Investment Partners LLC increased its stake in Okeanis Eco Tankers by 13.5% in the second quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock valued at $1,017,000 after purchasing an additional 5,558 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Okeanis Eco Tankers in the second quarter valued at approximately $25,000. Finally, Semmax Financial Advisors Inc. raised its holdings in Okeanis Eco Tankers by 8.2% in the second quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company’s stock worth $2,880,000 after purchasing an additional 10,016 shares during the period.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.