Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $24.07, but opened at $22.36. Okeanis Eco Tankers shares last traded at $22.54, with a volume of 312,582 shares trading hands.

Wall Street Analyst Weigh In

Separately, B. Riley decreased their price target on shares of Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th.

Okeanis Eco Tankers Price Performance

The stock has a market capitalization of $727.49 million and a P/E ratio of 6.22. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The firm has a 50-day moving average price of $22.67 and a 200 day moving average price of $26.70.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.19. The business had revenue of $85.19 million for the quarter, compared to analysts’ expectations of $82.46 million. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. On average, analysts expect that Okeanis Eco Tankers Corp. will post 3.13 EPS for the current year.

Institutional Trading of Okeanis Eco Tankers

Several institutional investors and hedge funds have recently bought and sold shares of ECO. Wells Fargo & Company MN bought a new position in shares of Okeanis Eco Tankers in the 4th quarter worth approximately $78,000. Jane Street Group LLC purchased a new stake in Okeanis Eco Tankers in the third quarter worth $206,000. BBR Partners LLC bought a new position in Okeanis Eco Tankers in the third quarter worth $326,000. Aristides Capital LLC purchased a new position in Okeanis Eco Tankers during the fourth quarter valued at $227,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Okeanis Eco Tankers during the third quarter valued at $383,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.