OceanPal Inc. (NASDAQ:OP – Get Free Report) shares rose 5.4% on Thursday . The company traded as high as $12.20 and last traded at $11.70. 15,928 shares changed hands during trading, a decline of 100% from the average session volume of 12,412,086 shares. The stock had previously closed at $11.10.
OceanPal Stock Performance
The stock’s 50-day moving average is $8.25 and its two-hundred day moving average is $8.65. The stock has a market cap of $136.06 million, a PE ratio of -0.31 and a beta of 1.16.
About OceanPal
OceanPal Inc is a dry bulk shipping company that owns and operates vessels used to transport commodities such as iron ore, grains, and other bulk cargoes. Its business is focused on providing maritime transportation services to customers in international trade.
The company’s vessels operate on global shipping routes and may be employed under time-charter, voyage-charter, or pool arrangements, depending on market conditions and customer requirements. Dry bulk shipping demand is influenced by worldwide industrial production, agricultural trade, and infrastructure activity.
OceanPal was established as an independent shipping company following a spin-off from Diana Shipping Inc The company has been led by Stamatis Tsantanis, who has served as chairman and chief executive officer.
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