United Maritime Co. (NASDAQ:USEA) Sees Large Increase in Short Interest

United Maritime Co. (NASDAQ:USEA) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 111,700 shares, a growth of 40.5% from the March 15th total of 79,500 shares. Based on an average trading volume of 56,500 shares, the short-interest ratio is presently 2.0 days. Currently, 1.4% of the company’s stock are sold short.

Institutional Investors Weigh In On United Maritime

Several large investors have recently added to or reduced their stakes in USEA. Acadian Asset Management LLC lifted its position in shares of United Maritime by 20.7% in the 1st quarter. Acadian Asset Management LLC now owns 75,764 shares of the company’s stock worth $216,000 after purchasing an additional 12,968 shares during the period. Advisor OS LLC purchased a new stake in shares of United Maritime in the 4th quarter worth approximately $55,000. MJP Associates Inc. ADV purchased a new stake in shares of United Maritime in the 4th quarter worth approximately $55,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of United Maritime in the 4th quarter worth approximately $145,000. 1.63% of the stock is owned by hedge funds and other institutional investors.

United Maritime Stock Performance

Shares of USEA opened at 2.52 on Friday. United Maritime has a twelve month low of 2.01 and a twelve month high of 3.09. The firm has a 50 day moving average of 2.69 and a 200 day moving average of 2.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.36 and a quick ratio of 0.35.

United Maritime (NASDAQ:USEA) last issued its quarterly earnings results on Tuesday, February 20th. The company reported -0.07 EPS for the quarter. The firm had revenue of 11.55 million for the quarter. United Maritime had a negative net margin of 0.25% and a positive return on equity of 0.02%.

United Maritime Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were given a $0.075 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.30 annualized dividend and a yield of 11.90%. United Maritime’s dividend payout ratio (DPR) is -166.67%.

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.