Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Here’s What Happened

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) gapped down before the market opened on Monday. The stock had previously closed at $101.33, but opened at $96.50. Okeanis Eco Tankers shares last traded at $96.0630, with a volume of 203,336 shares.

Analyst Ratings Changes

ECO has been the subject of a number of research reports. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. B. Riley Financial upped their price objective on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Finally, Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Okeanis Eco Tankers has an average rating of “Hold” and an average price target of $67.85.

Okeanis Eco Tankers Trading Up 2.3%

The business has a 50-day moving average price of $83.53 and a 200-day moving average price of $59.38. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $3.64 billion, a P/E ratio of 8.46 and a beta of -0.32.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, topping the consensus estimate of $4.61 by $1.30. The firm had revenue of $268.14 million during the quarter, compared to analysts’ expectations of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. Analysts anticipate that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current year.

Insider Activity

In other news, Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $59.99, for a total value of $4,104,515.80. Following the completion of the transaction, the director owned 1,347,038 shares in the company, valued at approximately $80,808,809.62. This represents a 4.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Okeanis Eco Tankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter worth approximately $43,000. Fifth Third Bancorp acquired a new stake in Okeanis Eco Tankers in the 1st quarter valued at $29,000. SBI Securities Co. Ltd. boosted its stake in Okeanis Eco Tankers by 48,800.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 978 shares of the company’s stock valued at $79,000 after buying an additional 976 shares in the last quarter. Royal Bank of Canada grew its position in Okeanis Eco Tankers by 29,762.5% in the first quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock valued at $121,000 after acquiring an additional 2,381 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Okeanis Eco Tankers in the second quarter valued at $137,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates oceangoing tankers. The company focuses primarily on the transportation of crude oil and refined petroleum products for energy companies, commodity traders and other customers in the global oil industry.

Its fleet consists mainly of large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, as well as product tankers designed to transport refined petroleum products. Okeanis Eco Tankers emphasizes fuel efficiency and environmental performance through the use of modern vessels and technologies intended to reduce emissions and operating consumption.

Okeanis Eco Tankers was established in 2018 and is headquartered in Athens, Greece.