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

OceanPal Inc. (NASDAQ:OP) saw a large decrease in short interest during 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. Based on an average daily trading volume, of 12,800 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are sold short.

OceanPal Stock Performance

Shares of NASDAQ OP traded up $0.01 during midday trading on Tuesday, hitting $0.70. 7,002 shares of the company traded hands, compared to its average volume of 17,904. OceanPal has a 12-month low of $0.63 and a 12-month high of $2.78. The firm has a market cap of $5.21 million, a P/E ratio of -0.37 and a beta of 0.53. The stock has a 50-day moving average price of $0.94 and a 200 day moving average price of $1.24.

OceanPal (NASDAQ:OP) last announced its quarterly earnings data on Wednesday, April 9th. The company reported ($0.50) EPS for the quarter. The firm 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.