OceanPal Inc. (NASDAQ:OP) Short Interest Down 63.6% in March

OceanPal Inc. (NASDAQ:OP) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 4,400 shares, a drop of 63.6% from the March 15th total of 12,100 shares. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are short sold.

OceanPal Price Performance

NASDAQ OP traded up $0.03 during trading 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. OceanPal has a fifty-two week low of $0.63 and a fifty-two week high of $2.73. The company has a market cap of $5.36 million, a PE ratio of -0.38 and a beta of 0.53. The business’s 50 day simple moving average is $0.93 and its 200-day simple moving average is $1.24.

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

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.