United Maritime (NASDAQ:USEA) Stock Price Down 1.9% – What’s Next?

United Maritime Corporation (NASDAQ:USEA)’s share price fell 1.9% during mid-day trading on Monday . The company traded as low as $3.04 and last traded at $3.04. Approximately 170,063 shares were traded during trading, an increase of 35% from the average session volume of 125,830 shares. The stock had previously closed at $3.10.

Wall Street Analysts Forecast Growth

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

United Maritime Stock Down 1.9%

The firm’s 50-day simple moving average is $2.77 and its 200 day simple moving average is $2.48. The company has a market cap of $28.91 million, a P/E ratio of -15.15 and a beta of 0.81. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 0.96.

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

United Maritime Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.40 annualized dividend and a yield of 13.2%. United Maritime’s dividend payout ratio is presently -200.00%.

Hedge Funds Weigh In On United Maritime

An institutional investor recently bought a new position in United Maritime stock. NewEdge Advisors LLC acquired a new stake in shares of United Maritime Corporation (NASDAQ:USEA) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,332 shares of the company’s stock, valued at approximately $53,000. NewEdge Advisors LLC owned 0.28% of United Maritime as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 1.63% of the company’s stock.

About United Maritime

United Maritime Corporation (NASDAQ: USEA) is a global shipping company that owns and operates oceangoing vessels engaged in the transportation of commodities and other cargoes. Its fleet activities have primarily focused on dry bulk carriers and tankers, which serve international trade routes.

The company’s dry bulk vessels transport commodities such as grains, coal, and other bulk materials, while its tanker operations are designed to carry liquid cargoes. United Maritime employs a combination of charter arrangements, including time charters and voyage-based employment, to commercialize its vessels and serve customers in international markets.

United Maritime is based in Greece and has historically been associated with the Greek shipping industry.