United Maritime (NASDAQ:USEA) Trading 0.8% Higher – What’s Next?

United Maritime Corporation (NASDAQ:USEA) shares traded up 0.8% on Friday . The stock traded as high as $2.68 and last traded at $2.63. 44,425 shares traded hands during trading, a decline of 28% from the average session volume of 61,327 shares. The stock had previously closed at $2.61.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of United Maritime from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

United Maritime Stock Performance

The firm’s 50 day moving average price is $2.29 and its 200-day moving average price is $2.02. The firm has a market cap of $25.09 million, a price-to-earnings ratio of -13.15 and a beta of 0.82. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.68 and a quick ratio of 0.67.

United Maritime (NASDAQ:USEA) last announced its quarterly earnings data on Thursday, May 21st. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.14. United Maritime had a negative net margin of 4.90% and a positive return on equity of 0.18%. The business had revenue of $7.95 million for the quarter, compared to the consensus estimate of $8.10 million.

United Maritime Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 15.2%. United Maritime’s dividend payout ratio (DPR) is presently -200.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in shares of United Maritime by 208.8% in the first quarter. Renaissance Technologies LLC now owns 232,535 shares of the company’s stock valued at $470,000 after buying an additional 157,235 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of United Maritime in the third quarter valued at about $56,000. Finally, NewEdge Advisors LLC bought a new position in shares of United Maritime in the first quarter valued at about $53,000. 1.63% of the stock is owned by institutional investors.

About United Maritime

United Maritime Corporation is a Marshall Islands–incorporated shipping company that provides seaborne transportation of crude oil and petroleum products. Traded on the NASDAQ under the symbol USEA, the company markets its tanker services to major oil producers, traders and refiners around the world. Its business model combines vessel ownership with time-charter contracts to deliver tailored shipping solutions across the energy supply chain.

The company’s fleet is composed primarily of medium‐ and large‐sized oil tankers, including Aframax and Suezmax vessels.