Short Interest in OceanPal Inc. (NASDAQ:OP) Drops By 63.6%

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

OceanPal Price Performance

Shares of NASDAQ:OP traded up $0.03 during trading hours on Thursday, hitting $0.72. The company’s stock had a trading volume of 9,710 shares, compared to its average volume of 17,878. The company has a market capitalization of $5.36 million, a price-to-earnings ratio of -0.38 and a beta of 0.53. The firm’s fifty day moving average price is $0.93 and its 200 day moving average price is $1.24. OceanPal has a 52 week low of $0.63 and a 52 week high of $2.73.

OceanPal (NASDAQ:OP) last released its quarterly earnings results on Wednesday, April 9th. The company reported ($0.50) EPS for the quarter. OceanPal had a negative return on equity of 10.69% and a negative net margin of 37.37%. The company had revenue of $5.78 million during the quarter.

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.