Okeanis Eco Tankers (NYSE:ECO) Cut to “Hold” at Clarkson Capital

Okeanis Eco Tankers (NYSE:ECO) was downgraded by equities research analysts at Clarkson Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Friday,Zacks.com reports.

A number of other brokerages also recently weighed in on ECO. B. Riley Financial raised their target price on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings lowered shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $50.02.

Okeanis Eco Tankers Price Performance

Shares of NYSE ECO opened at $55.03 on Friday. The firm has a market capitalization of $2.15 billion, a P/E ratio of 9.72 and a beta of 0.09. The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. The stock’s 50-day simple moving average is $50.86 and its two-hundred day simple moving average is $42.86. Okeanis Eco Tankers has a twelve month low of $21.27 and a twelve month high of $58.45.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The firm had revenue of $170.17 million during the quarter, compared to the consensus estimate of $134.02 million. As a group, equities analysts anticipate that Okeanis Eco Tankers will post 4.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of large investors have recently made changes to their positions in ECO. Militia Capital Partners LP bought a new position in shares of Okeanis Eco Tankers in the 3rd quarter worth about $1,024,000. Navellier & Associates Inc. purchased a new position in Okeanis Eco Tankers during the 4th quarter valued at about $631,000. Quantbot Technologies LP purchased a new stake in Okeanis Eco Tankers in the third quarter worth about $344,000. Centiva Capital LP purchased a new stake in Okeanis Eco Tankers in the third quarter worth about $259,000. Finally, State of Wyoming increased its stake in shares of Okeanis Eco Tankers by 58.6% during the third quarter. State of Wyoming now owns 7,825 shares of the company’s stock valued at $229,000 after purchasing an additional 2,890 shares in the last quarter.

Okeanis Eco Tankers Company Profile

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.