United Maritime (NASDAQ:USEA) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of United Maritime (NASDAQ:USEA) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings cut shares of United Maritime from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company has an average rating of “Sell”.

United Maritime Price Performance

Shares of United Maritime stock opened at $2.37 on Friday. United Maritime has a twelve month low of $1.42 and a twelve month high of $3.20. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.45. The company has a 50-day simple moving average of $2.72 and a two-hundred day simple moving average of $2.41. The stock has a market capitalization of $22.61 million, a price-to-earnings ratio of -11.85 and a beta of 0.83.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in United Maritime stock. Renaissance Technologies LLC increased its position in shares of United Maritime Corporation (NASDAQ:USEA) by 208.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 232,535 shares of the company’s stock after purchasing an additional 157,235 shares during the quarter. Renaissance Technologies LLC owned 2.44% of United Maritime worth $470,000 at the end of the most recent reporting period. 1.63% of the stock is owned by institutional investors.

United Maritime Company Profile

United Maritime Corporation (NASDAQ: USEA) is a global shipping company engaged in the ownership and operation of oceangoing vessels. The company primarily provides seaborne transportation services for dry bulk commodities and liquid cargoes through its fleet of dry bulk carriers and tankers.

United Maritime’s vessels transport commodities such as grains, coal, and other dry bulk materials, as well as petroleum products and related liquid cargoes. The company generates revenue by employing its vessels under voyage charters, time charters, and other commercial arrangements with customers in international shipping markets.

Founded in 2021, United Maritime is headquartered in Greece and serves customers and trading routes worldwide.