Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Time to Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $30.93, but opened at $29.96. Okeanis Eco Tankers shares last traded at $29.86, with a volume of 63,416 shares trading hands.

Okeanis Eco Tankers Stock Down 3.3 %

The stock’s 50 day simple moving average is $32.10 and its 200 day simple moving average is $32.06. The stock has a market capitalization of $962.92 million and a P/E ratio of 7.38. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 1.37.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Friday, August 9th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.33. Okeanis Eco Tankers had a return on equity of 28.35% and a net margin of 30.17%. The business had revenue of $111.99 million during the quarter, compared to the consensus estimate of $100.71 million. As a group, research analysts predict that Okeanis Eco Tankers Corp. will post 3.52 EPS for the current fiscal year.

Okeanis Eco Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 14.71%. The ex-dividend date was Wednesday, August 21st. Okeanis Eco Tankers’s dividend payout ratio is currently 105.01%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Susquehanna International Securities Ltd. acquired a new stake in shares of Okeanis Eco Tankers during the 1st quarter worth approximately $210,000. Marshall Wace LLP bought a new position in Okeanis Eco Tankers during the 2nd quarter worth $247,000. Acadian Asset Management LLC acquired a new stake in Okeanis Eco Tankers in the second quarter worth $370,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Okeanis Eco Tankers in the second quarter valued at $1,767,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Okeanis Eco Tankers during the second quarter valued at $2,086,000.

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.