Short Interest in United Maritime Co. (NASDAQ:USEA) Drops By 14.7%

United Maritime Co. (NASDAQ:USEA) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 496,900 shares, a decline of 14.7% from the February 28th total of 582,200 shares. Based on an average daily volume of 53,700 shares, the short-interest ratio is currently 9.3 days. Approximately 6.8% of the company’s shares are short sold.

United Maritime Stock Down 4.9 %

NASDAQ:USEA opened at $1.36 on Tuesday. The company has a market cap of $12.04 million, a price-to-earnings ratio of -5.23 and a beta of 0.54. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.46 and a current ratio of 0.47. The stock’s fifty day moving average price is $1.76 and its two-hundred day moving average price is $2.02. United Maritime has a 52-week low of $1.34 and a 52-week high of $2.90.

United Maritime Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 27th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Thursday, March 27th. United Maritime’s dividend payout ratio (DPR) is presently -10.26%.

Hedge Funds Weigh In On United Maritime

An institutional investor recently raised its position in United Maritime stock. Squarepoint Ops LLC raised its holdings in shares of United Maritime Co. (NASDAQ:USEA) by 100.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 36,201 shares of the company’s stock after acquiring an additional 18,117 shares during the period. Squarepoint Ops LLC owned approximately 0.41% of United Maritime worth $62,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 1.63% of the company’s stock.

United Maritime Company Profile

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.