Okeanis Eco Tankers (NYSE:ECO) Sees Strong Trading Volume – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) shares saw unusually-high trading volume on Friday . Approximately 481,258 shares traded hands during trading, an increase of 95% from the previous session’s volume of 246,729 shares.The stock last traded at $21.99 and had previously closed at $22.44.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their target price on shares of Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Trading Down 2.2 %

The firm has a market capitalization of $706.22 million and a PE ratio of 6.49. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 1.48. The business’s fifty day moving average price is $22.74 and its 200 day moving average price is $26.67.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The business had revenue of $85.19 million during the quarter, compared to the consensus estimate of $82.46 million. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.19%. As a group, analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN purchased a new stake in Okeanis Eco Tankers in the fourth quarter valued at approximately $78,000. Jane Street Group LLC purchased a new stake in Okeanis Eco Tankers in the third quarter valued at approximately $206,000. Aristides Capital LLC purchased a new stake in Okeanis Eco Tankers in the fourth quarter valued at approximately $227,000. Citadel Advisors LLC grew its holdings in Okeanis Eco Tankers by 21.7% in the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock valued at $279,000 after purchasing an additional 2,340 shares during the period. Finally, BBR Partners LLC purchased a new stake in Okeanis Eco Tankers in the third quarter valued at approximately $326,000.

About Okeanis Eco Tankers

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.