Okeanis Eco Tankers (NYSE:ECO) Rating Lowered to “Hold” at Zacks Research

Okeanis Eco Tankers (NYSE:ECO) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also commented on ECO. Clarkson Capital upgraded 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. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 29th. Weiss Ratings lowered Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. Finally, B. Riley Financial upped their target price on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and a consensus price target of $43.35.

Okeanis Eco Tankers Stock Down 3.2%

Shares of Okeanis Eco Tankers stock opened at $51.04 on Monday. Okeanis Eco Tankers has a one year low of $21.14 and a one year high of $57.29. 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 stock’s 50-day moving average is $48.84 and its 200 day moving average is $40.21. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 13.65 and a beta of -0.07.

Okeanis Eco Tankers (NYSE:ECO) last announced its 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 company had revenue of $91.33 million for the quarter, compared to analyst estimates of $98.45 million. Equities research analysts anticipate that Okeanis Eco Tankers will post 4.35 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Okeanis Eco Tankers in the second quarter worth approximately $25,000. Quarry LP bought a new position in Okeanis Eco Tankers in the third quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after acquiring an additional 532 shares in the last quarter. State of Wyoming bought a new position in Okeanis Eco Tankers in the second quarter worth approximately $107,000. Finally, Verition Fund Management LLC bought a new position in Okeanis Eco Tankers in the third quarter worth 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.