Oceanpal Inc. (NASDAQ:SVRN) Sees Large Decline in Short Interest

Oceanpal Inc. (NASDAQ:SVRN) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 3,807 shares, a decline of 57.0% from the June 30th total of 8,862 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 8,571 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

SVRN has been the topic of several recent analyst reports. Wall Street Zen raised shares of Oceanpal to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oceanpal in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Oceanpal Price Performance

NASDAQ SVRN opened at $6.81 on Tuesday. The stock’s 50-day simple moving average is $9.21. Oceanpal has a twelve month low of $3.12 and a twelve month high of $108.00. The stock has a market capitalization of $12.80 million, a P/E ratio of -0.01 and a beta of 1.45.

Oceanpal (NASDAQ:SVRN) last posted its quarterly earnings results on Thursday, March 26th. The company reported $306.60 EPS for the quarter. The business had revenue of $3.62 million during the quarter.

About Oceanpal

OceanPal Inc focuses on the provision of ocean-going transportation services. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains, as well as minor bulks comprising bauxite, phosphate, and fertilizers. As of November 29, 2021, its fleet consisted of 3 dry bulk vessels, which include 2 Panamax and 1 Capesize vessels. The company is based in Athens, Greece.