Okeanis Eco Tankers (NYSE:ECO) Stock Price Breaks Above 50-Day Moving Average – Time to Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $85.59 and traded as high as $86.24. Okeanis Eco Tankers shares last traded at $85.6010, with a volume of 854,661 shares traded.

Analysts Set New Price Targets

ECO has been the subject of several recent analyst reports. B. Riley Financial boosted their target price on Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Finally, Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.85.

Okeanis Eco Tankers Stock Up 4.8%

The company’s 50 day moving average price is $85.59 and its 200 day moving average price is $60.72. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 7.99 and a beta of -0.32.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, November 11th. The company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.73 by $2.94. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. The firm had revenue of $501.50 million for the quarter, compared to analyst estimates of $220.83 million. As a group, research analysts forecast that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of Okeanis Eco Tankers stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $59.99, for a total transaction of $4,104,515.80. Following the completion of the sale, the director owned 1,347,038 shares of the company’s stock, valued at approximately $80,808,809.62. The trade was a 4.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Trading of Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in ECO. Private Advisor Group LLC acquired a new position in shares of Okeanis Eco Tankers in the third quarter valued at about $1,594,000. Global Retirement Partners LLC purchased a new position in shares of Okeanis Eco Tankers in the third quarter worth about $25,000. HighTower Advisors LLC purchased a new position in shares of Okeanis Eco Tankers in the third quarter worth about $347,000. Ritholtz Wealth Management acquired a new stake in shares of Okeanis Eco Tankers during the third quarter worth about $398,000. Finally, M Holdings Securities Inc. acquired a new stake in shares of Okeanis Eco Tankers during the third quarter worth about $295,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a Greece-based shipping company that owns and operates crude oil tankers. Its fleet includes very large crude carriers (VLCCs) and Suezmax vessels, which transport crude oil between production regions and markets around the world. The company provides seaborne transportation services to energy companies and commodity traders, deploying its vessels through spot-market voyages and charter arrangements. Its ships are designed to meet modern efficiency and environmental standards.