Okeanis Eco Tankers (NYSE:ECO) Stock Rating Lowered by Wall Street Zen

Okeanis Eco Tankers (NYSE:ECO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other brokerages have also issued reports on ECO. Weiss Ratings upgraded Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price on the stock in a report on Tuesday, January 27th. B. Riley Financial lifted their price target on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $43.35.

Okeanis Eco Tankers Stock Performance

ECO stock opened at $46.27 on Friday. The business’s 50-day moving average price is $44.13 and its two-hundred day moving average price is $36.82. The company has a current ratio of 3.41, a quick ratio of 3.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $1.81 billion, a PE ratio of 12.37 and a beta of -0.29. Okeanis Eco Tankers has a 1-year low of $17.91 and a 1-year high of $57.29.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.48. The company had revenue of $91.33 million during the quarter, compared to the consensus estimate of $98.45 million. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%. As a group, research analysts forecast that Okeanis Eco Tankers will post 1.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fearnley Asset Management AS acquired a new position in shares of Okeanis Eco Tankers in the fourth quarter valued at approximately $18,696,000. Caitong International Asset Management Co. Ltd boosted its position in Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after buying an additional 532 shares during the period. Invesco Ltd. bought a new stake in Okeanis Eco Tankers during the 4th quarter worth approximately $664,000. Quadrature Capital Ltd bought a new stake in Okeanis Eco Tankers during the 4th quarter worth approximately $1,984,000. Finally, Numerai GP LLC acquired a new position in Okeanis Eco Tankers in the 4th quarter valued at approximately $713,000.

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.