Zacks Research Upgrades Okeanis Eco Tankers (NYSE:ECO) to “Strong-Buy”

Okeanis Eco Tankers (NYSE:ECO) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on ECO. Wall Street Zen raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. B. Riley increased their price target on Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Monday. UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Finally, Clarkson Capital upgraded shares of Okeanis Eco Tankers to a “hold” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Okeanis Eco Tankers currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Okeanis Eco Tankers Stock Performance

ECO stock traded down $0.50 during mid-day trading on Monday, hitting $35.65. The company had a trading volume of 29,702 shares, compared to its average volume of 183,037. The firm has a market cap of $1.15 billion, a PE ratio of 14.91 and a beta of -0.01. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.69 and a current ratio of 2.00. Okeanis Eco Tankers has a 12 month low of $17.91 and a 12 month high of $39.77. The stock’s fifty day moving average price is $33.83 and its two-hundred day moving average price is $28.19.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Thursday, November 13th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. Okeanis Eco Tankers had a net margin of 21.92% and a return on equity of 18.05%. The firm had revenue of $90.60 million during the quarter, compared to the consensus estimate of $51.29 million. On average, analysts forecast that Okeanis Eco Tankers will post 1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ECO. SG Americas Securities LLC raised its stake in Okeanis Eco Tankers by 108.2% in the second quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock valued at $9,144,000 after purchasing an additional 218,717 shares in the last quarter. Semmax Financial Advisors Inc. increased its holdings in shares of Okeanis Eco Tankers by 210.9% in the 1st quarter. Semmax Financial Advisors Inc. now owns 122,529 shares of the company’s stock worth $2,906,000 after buying an additional 83,122 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Okeanis Eco Tankers by 56.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock valued at $3,328,000 after buying an additional 54,528 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Okeanis Eco Tankers by 517.5% during the 3rd quarter. Two Sigma Investments LP now owns 58,678 shares of the company’s stock worth $1,718,000 after acquiring an additional 49,176 shares during the last quarter. Finally, Militia Capital Partners LP bought a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth $1,024,000.

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.