OceanPal Inc. (NASDAQ:OP) Sees Significant Decrease in Short Interest

OceanPal Inc. (NASDAQ:OP) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 4,400 shares, a decrease of 63.6% from the March 15th total of 12,100 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 12,800 shares, the short-interest ratio is currently 0.3 days.

OceanPal Stock Down 1.3 %

OP stock traded down $0.01 during trading on Wednesday, reaching $0.69. The company’s stock had a trading volume of 1,673 shares, compared to its average volume of 17,855. The company has a market capitalization of $5.15 million, a P/E ratio of -0.37 and a beta of 0.53. OceanPal has a 1 year low of $0.63 and a 1 year high of $2.78. The company’s fifty day moving average is $0.93 and its 200-day moving average is $1.24.

OceanPal (NASDAQ:OP) last announced its earnings results on Wednesday, April 9th. The company reported ($0.50) earnings per share (EPS) for the quarter. The business had revenue of $5.78 million for the quarter. OceanPal had a negative net margin of 37.37% and a negative return on equity of 10.69%.

OceanPal Company Profile

OceanPal Inc provides ocean-going transportation services worldwide. The company owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal, and grains, as well as minor bulks, including bauxite, phosphate, and fertilizers. As of December 31, 2023, its fleet consisted of five dry bulk carriers, which include three Panamaxes and two Capesize vessels with a cargo carrying capacity of approximately 572,599 deadweight tons.