Okeanis Eco Tankers (NYSE:ECO) Stock Rating Lowered by Wall Street Zen

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

A number of other brokerages have also recently issued reports on ECO. Weiss Ratings raised Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. B. Riley Financial upped their target price on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock 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 target price for the company in a research report on Tuesday, January 27th. Finally, Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. One equities 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $43.35.

Okeanis Eco Tankers Trading Down 1.9%

Shares of ECO opened at $46.27 on Friday. Okeanis Eco Tankers has a 1 year low of $17.91 and a 1 year high of $57.29. The company has a current ratio of 3.41, a quick ratio of 3.16 and a debt-to-equity ratio of 0.97. The stock has a 50 day simple moving average of $44.13 and a 200-day simple moving average of $36.96. The stock has a market cap of $1.81 billion, a PE ratio of 12.37 and a beta of -0.30.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.30 by $0.48. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%.The business had revenue of $91.33 million for the quarter, compared to analyst estimates of $98.45 million. On average, sell-side analysts predict that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in ECO. Militia Capital Partners LP acquired a new position in Okeanis Eco Tankers during the 3rd quarter worth about $1,024,000. SG Americas Securities LLC grew its holdings in Okeanis Eco Tankers by 5.4% during the 3rd quarter. SG Americas Securities LLC now owns 443,695 shares of the company’s stock worth $12,987,000 after acquiring an additional 22,906 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Okeanis Eco Tankers in the 3rd quarter valued at about $344,000. S.E.E.D. Planning Group LLC bought a new position in shares of Okeanis Eco Tankers in the third quarter worth about $234,000. Finally, Verition Fund Management LLC raised its stake in shares of Okeanis Eco Tankers by 22.1% in the fourth quarter. Verition Fund Management LLC now owns 8,784 shares of the company’s stock worth $297,000 after acquiring an additional 1,591 shares during the last quarter.

Okeanis Eco Tankers Company Profile

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.