United Maritime (NASDAQ:USEA) Shares Down 2.2% – Here’s What Happened

United Maritime Co. (NASDAQ:USEA)’s stock price fell 2.2% during mid-day trading on Tuesday . The stock traded as low as $2.23 and last traded at $2.27. 36,122 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 44,289 shares. The stock had previously closed at $2.32.

United Maritime Price Performance

The stock has a fifty day moving average of $2.50 and a 200 day moving average of $2.55. The stock has a market cap of $20.09 million, a price-to-earnings ratio of 3.03 and a beta of 0.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.47 and a quick ratio of 0.46.

United Maritime (NASDAQ:USEA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). United Maritime had a net margin of 15.63% and a return on equity of 11.26%. The business had revenue of $12.44 million during the quarter.

Institutional Investors Weigh In On United Maritime

A hedge fund recently raised its stake in United Maritime stock. Renaissance Technologies LLC increased 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 95,914 shares of the company’s stock after acquiring an additional 20,514 shares during the period. Renaissance Technologies LLC owned about 1.10% of United Maritime worth $249,000 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, 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.