B. Riley Lowers Okeanis Eco Tankers (NYSE:ECO) Price Target to $40.00

Okeanis Eco Tankers (NYSE:ECO) had its price objective decreased by research analysts at B. Riley from $44.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price indicates a potential upside of 67.50% from the stock’s previous close. B. Riley also issued estimates for Okeanis Eco Tankers’ Q4 2024 earnings at $0.22 EPS and FY2024 earnings at $3.13 EPS.

Okeanis Eco Tankers Trading Down 5.5 %

Okeanis Eco Tankers stock opened at $23.88 on Wednesday. Okeanis Eco Tankers has a one year low of $18.79 and a one year high of $36.69. The stock has a market cap of $768.79 million and a PE ratio of 6.58. 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 stock has a 50-day moving average of $22.02 and a two-hundred day moving average of $27.91.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Friday, November 8th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.36. The company had revenue of $84.93 million during the quarter, compared to analysts’ expectations of $74.61 million. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. On average, research analysts anticipate that Okeanis Eco Tankers will post 3.19 EPS for the current fiscal year.

Institutional Trading of Okeanis Eco Tankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wexford Capital LP increased its holdings in shares of Okeanis Eco Tankers by 7.1% in the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock valued at $728,000 after purchasing an additional 1,472 shares during the period. Jane Street Group LLC acquired a new position in Okeanis Eco Tankers in the 3rd quarter worth approximately $206,000. Marshall Wace LLP purchased a new position in Okeanis Eco Tankers during the 2nd quarter worth approximately $247,000. PDT Partners LLC raised its position in Okeanis Eco Tankers by 61.5% during the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock worth $663,000 after buying an additional 7,715 shares during the last quarter. Finally, BBR Partners LLC purchased a new stake in shares of Okeanis Eco Tankers in the 3rd quarter valued at $326,000.

About Okeanis Eco Tankers

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.