United Maritime (NASDAQ:USEA) Trading 2.2% Higher – Here’s Why

Shares of United Maritime Corporation (NASDAQ:USEA) shot up 2.2% on Friday . The company traded as high as $2.79 and last traded at $2.77. 81,048 shares changed hands during trading, an increase of 47% from the average daily volume of 55,113 shares. The stock had previously closed at $2.71.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of United Maritime in a research note on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

United Maritime Stock Up 2.2%

The company’s 50 day simple moving average is $2.65 and its 200-day simple moving average is $2.32. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The firm has a market cap of $26.43 million, a P/E ratio of -13.85 and a beta of 0.81.

United Maritime (NASDAQ:USEA) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.12. United Maritime had a negative net margin of 5.07% and a positive return on equity of 2.31%. The firm had revenue of $9.99 million during the quarter, compared to analyst estimates of $9.80 million.

United Maritime Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.40 dividend on an annualized basis and a yield of 14.4%. United Maritime’s dividend payout ratio is presently -200.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC purchased a new stake in United Maritime in the first quarter worth about $53,000. Elevation Point Wealth Partners LLC bought a new position in shares of United Maritime during the third quarter valued at approximately $56,000. Finally, Renaissance Technologies LLC increased its holdings in United Maritime by 638.2% during the fourth quarter. Renaissance Technologies LLC now owns 75,300 shares of the company’s stock valued at $128,000 after buying an additional 65,100 shares during the period. 1.63% of the stock is currently owned by hedge funds and other institutional investors.

About United Maritime

United Maritime Corporation is a Marshall Islands–incorporated shipping company that provides seaborne transportation of crude oil and petroleum products. Traded on the NASDAQ under the symbol USEA, the company markets its tanker services to major oil producers, traders and refiners around the world. Its business model combines vessel ownership with time-charter contracts to deliver tailored shipping solutions across the energy supply chain.

The company’s fleet is composed primarily of medium? and large?sized oil tankers, including Aframax and Suezmax vessels.