OceanPal Inc. (NASDAQ:OP – Get Free Report)’s stock price rose 5.3% during mid-day trading on Thursday . The stock traded as high as $8.86 and last traded at $8.75. Approximately 28,383 shares were traded during mid-day trading, a decline of 100% from the average session volume of 12,412,086 shares. The stock had previously closed at $8.31.
OceanPal Price Performance
The firm has a market capitalization of $58.59 million, a P/E ratio of -0.13 and a beta of 1.16. The business has a 50 day moving average price of $7.60 and a 200 day moving average price of $8.59.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in OceanPal stock. Citadel Advisors LLC bought a new stake in shares of OceanPal Inc. (NASDAQ:OP – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 22,841 shares of the company’s stock, valued at approximately $28,000. Citadel Advisors LLC owned about 0.34% of OceanPal at the end of the most recent reporting period.
OceanPal Company Profile
OceanPal Inc (NASDAQ: OP) is a Bermuda‐incorporated shipping company focused on the ownership and operation of modern crude oil tankers on a long‐term time charter basis. The company’s fleet includes both very large crude carriers (VLCCs) and Suezmax vessels, constructed at leading shipyards and maintained to high technical and safety standards. By securing multi‐year charter agreements with major oil producers and trading houses, OceanPal aims to generate stable revenue streams and enhance predictability of cash flows.
The origins of OceanPal trace back to General Maritime Corp., which was established in 2005 and listed on the NASDAQ.
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