Okeanis Eco Tankers (NYSE:ECO) Raised to “Strong-Buy” at Wall Street Zen

Okeanis Eco Tankers (NYSE:ECO) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday. Pareto Securities downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a research report on Monday, May 25th. B. Riley Financial increased their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.52.

Okeanis Eco Tankers Trading Up 0.0%

NYSE ECO opened at $61.87 on Friday. The firm has a market capitalization of $2.42 billion, a PE ratio of 5.77 and a beta of -0.15. The business’s 50-day moving average price is $54.10 and its two-hundred day moving average price is $50.60. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76. Okeanis Eco Tankers has a 12 month low of $23.82 and a 12 month high of $64.26.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $1.30. The company had revenue of $268.14 million during the quarter, compared to the consensus estimate of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. On average, analysts expect that Okeanis Eco Tankers will post 15.33 EPS for the current year.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of institutional investors and hedge funds have recently modified their holdings of the business. Militia Capital Management LLC acquired a new stake in shares of Okeanis Eco Tankers during the 1st quarter worth approximately $3,541,000. Bank of America Corp DE lifted its position in shares of Okeanis Eco Tankers by 96.7% during the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after acquiring an additional 136,782 shares during the period. Royal Bank of Canada lifted its position in shares of Okeanis Eco Tankers by 29,762.5% during the 1st 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. Energy Income Partners LLC boosted its stake in Okeanis Eco Tankers by 3.4% during the first quarter. Energy Income Partners LLC now owns 69,118 shares of the company’s stock worth $3,497,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Okeanis Eco Tankers during the first quarter worth $778,000.

About Okeanis Eco Tankers

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.