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

Oceanpal Inc. (NASDAQ:SVRN) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 7,432 shares, a decrease of 69.1% from the May 14th total of 24,021 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 54,797 shares, the days-to-cover ratio is currently 0.1 days.

Oceanpal Stock Up 2.0%

NASDAQ SVRN traded up $0.20 on Thursday, hitting $10.20. 3,332 shares of the company’s stock traded hands, compared to its average volume of 150,945. Oceanpal has a 1-year low of $3.12 and a 1-year high of $1,585.00. The stock’s 50-day moving average price is $9.60. The firm has a market cap of $19.18 million, a price-to-earnings ratio of -0.01 and a beta of 1.44.

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

Analyst Upgrades and Downgrades

SVRN has been the subject of several analyst reports. Weiss Ratings started coverage on Oceanpal in a report on Thursday, April 2nd. They issued a “sell (e+)” rating on the stock. Wall Street Zen upgraded Oceanpal to a “hold” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Oceanpal Company Profile

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.