Okeanis Eco Tankers (NYSE:ECO) Rating Increased to Strong-Buy at Wall Street Zen

Okeanis Eco Tankers (NYSE:ECO) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday.

A number of other research firms have also recently issued reports on ECO. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. B. Riley Financial raised their price objective 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 Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price for the company in a research report on Tuesday, January 27th. Finally, Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.35.

Okeanis Eco Tankers Stock Performance

Okeanis Eco Tankers stock opened at $49.94 on Friday. Okeanis Eco Tankers has a fifty-two week low of $17.91 and a fifty-two week high of $57.29. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.16 and a current ratio of 1.50. The stock has a market cap of $1.95 billion, a P/E ratio of 13.35 and a beta of -0.29. The firm’s fifty day moving average price is $45.09 and its 200-day moving average price is $37.63.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.48. The company had revenue of $91.33 million during the quarter, compared to analyst estimates 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 research analysts expect that Okeanis Eco Tankers will post 1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $25,000. Quarry LP bought a new position in Okeanis Eco Tankers during the 3rd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its stake in Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after purchasing an additional 532 shares during the period. State of Wyoming purchased a new position in Okeanis Eco Tankers in the 2nd quarter worth approximately $107,000. Finally, Verition Fund Management LLC bought a new stake in Okeanis Eco Tankers in the third quarter valued at approximately $211,000.

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.