United Maritime (NASDAQ:USEA) Stock Price Up 1.1% – Still a Buy?

United Maritime Co. (NASDAQ:USEA)’s stock price traded up 1.1% during mid-day trading on Thursday . The company traded as high as $1.85 and last traded at $1.85. 12,841 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 38,596 shares. The stock had previously closed at $1.83.

United Maritime Stock Performance

The company has a debt-to-equity ratio of 1.62, a current ratio of 0.47 and a quick ratio of 0.46. The stock has a market capitalization of $16.37 million, a P/E ratio of -7.12 and a beta of 0.52. The company has a 50 day simple moving average of $1.88 and a 200-day simple moving average of $2.28.

United Maritime (NASDAQ:USEA) last posted its earnings results on Tuesday, November 26th. The company reported ($0.06) earnings per share for the quarter. United Maritime had a negative return on equity of 2.76% and a negative net margin of 4.96%.

United Maritime Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 16.22%. The ex-dividend date of this dividend was Friday, December 27th. United Maritime’s dividend payout ratio is presently -115.38%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in United Maritime stock. Renaissance Technologies LLC grew its stake in shares of United Maritime Co. (NASDAQ:USEA) by 27.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,914 shares of the company’s stock after buying an additional 20,514 shares during the quarter. Renaissance Technologies LLC owned 1.10% of United Maritime worth $249,000 at the end of the most recent quarter. Institutional investors and hedge funds own 1.63% of the company’s stock.

About United Maritime

United Maritime Corporation, a shipping company, offers seaborne transportation services worldwide. It operates a fleet of eight dry bulk vessels comprising three Panamax, three Capesize, and two Kamsarmax vessels with an aggregate cargo-carrying capacity of approximately 922,054 dwt. The company was incorporated in 2022 and is based in Glyfada, Greece.