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

Okeanis Eco Tankers (NYSE:ECO) was upgraded by equities research 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.

Other research analysts have also recently issued research reports about the company. Clarkson Capital raised Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price on the stock in a research report on Tuesday, January 27th. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. B. Riley Financial boosted their target price on Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. 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 research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Okeanis Eco Tankers presently has an average rating of “Moderate Buy” and an average target price of $43.35.

Okeanis Eco Tankers Stock Down 0.1%

Shares of NYSE ECO opened at $49.83 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 1.39. The company has a 50-day moving average price of $45.29 and a 200-day moving average price of $37.85. The stock has a market capitalization of $1.95 billion, a P/E ratio of 13.32 and a beta of -0.30. Okeanis Eco Tankers has a 1 year low of $17.91 and a 1 year high of $57.29.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ECO. Encompass Capital Advisors LLC bought a new stake in Okeanis Eco Tankers during the 4th quarter valued at $27,416,000. Fearnley Asset Management AS bought a new position in shares of Okeanis Eco Tankers in the fourth quarter worth $18,696,000. Marshall Wace LLP bought a new position in shares of Okeanis Eco Tankers in the fourth quarter worth $10,911,000. JPMorgan Chase & Co. purchased a new position in shares of Okeanis Eco Tankers in the fourth quarter valued at $5,222,000. Finally, Millennium Management LLC grew its position in shares of Okeanis Eco Tankers by 647.5% in the fourth quarter. Millennium Management LLC now owns 124,109 shares of the company’s stock valued at $4,200,000 after purchasing an additional 107,505 shares in the last quarter.

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.