Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $20.82, but opened at $18.93. Okeanis Eco Tankers shares last traded at $18.71, with a volume of 123,658 shares traded.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their target price on Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th.

Okeanis Eco Tankers Stock Down 10.8 %

The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46. The stock has a fifty day moving average price of $22.62 and a two-hundred day moving average price of $24.68. The company has a market cap of $598.00 million, a price-to-earnings ratio of 5.50 and a beta of 0.04.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.19. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. The firm had revenue of $85.19 million during the quarter, compared to the consensus estimate of $82.46 million. As a group, sell-side analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.54%. Okeanis Eco Tankers’s payout ratio is 41.42%.

Institutional Trading of Okeanis Eco Tankers

Large investors have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new position in Okeanis Eco Tankers in the third quarter valued at about $1,169,000. BNP Paribas Financial Markets raised its position in shares of Okeanis Eco Tankers by 409.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock valued at $661,000 after buying an additional 16,280 shares in the last quarter. Boston Partners bought a new stake in shares of Okeanis Eco Tankers during the 4th quarter worth approximately $1,231,000. Jane Street Group LLC acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $206,000. Finally, Public Employees Retirement System of Ohio bought a new position in Okeanis Eco Tankers in the third quarter valued at approximately $383,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.