Okeanis Eco Tankers (NYSE:ECO) Sets New 12-Month High – Time to Buy?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) reached a new 52-week high on Wednesday . The stock traded as high as $44.19 and last traded at $44.0960, with a volume of 15632 shares. The stock had previously closed at $42.71.

Analyst Ratings Changes

Several research firms have commented on ECO. B. Riley Financial raised their target price on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th. Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. UBS Group lowered Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Finally, Clarkson Capital upgraded Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price objective for the company in a report on Tuesday, January 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Okeanis Eco Tankers presently has a consensus rating of “Moderate Buy” and an average price target of $40.02.

Okeanis Eco Tankers Stock Up 4.4%

The company has a debt-to-equity ratio of 1.33, a current ratio of 2.00 and a quick ratio of 1.69. The stock has a market capitalization of $1.44 billion, a P/E ratio of 18.65 and a beta of 0.04. The stock’s fifty day moving average is $37.53 and its two-hundred day moving average is $33.27.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in shares of Okeanis Eco Tankers by 56.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock valued at $3,328,000 after purchasing an additional 54,528 shares during the period. SG Americas Securities LLC lifted its stake in Okeanis Eco Tankers by 108.2% during the second quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock valued at $9,144,000 after buying an additional 218,717 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Okeanis Eco Tankers in the second quarter worth about $613,000. Lighthouse Investment Partners LLC boosted its holdings in shares of Okeanis Eco Tankers by 13.5% in the second quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock worth $1,017,000 after buying an additional 5,558 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Okeanis Eco Tankers in the second quarter worth approximately $25,000.

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.