OceanPal Inc. (NASDAQ:OP – Get Free Report)’s stock price dropped 0.7% on Thursday . The stock traded as low as $6.00 and last traded at $6.07. 5,409 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 $6.11.
OceanPal Stock Performance
The firm’s 50 day moving average is $8.50 and its 200-day moving average is $10.04. The stock has a market capitalization of $41.85 million, a price-to-earnings ratio of -0.09 and a beta of 1.16.
Institutional Investors Weigh In On OceanPal
An institutional investor recently bought a new position in OceanPal stock. Citadel Advisors LLC purchased a new position in OceanPal Inc. (NASDAQ:OP – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 22,841 shares of the company’s stock, valued at approximately $28,000. Citadel Advisors LLC owned 0.34% of OceanPal at the end of the most recent quarter.
About OceanPal
OceanPal Inc (NASDAQ: OP) is a Bermuda‐incorporated shipping company focused on the ownership and operation of modern crude oil tankers on a long‐term time charter basis. The company’s fleet includes both very large crude carriers (VLCCs) and Suezmax vessels, constructed at leading shipyards and maintained to high technical and safety standards. By securing multi‐year charter agreements with major oil producers and trading houses, OceanPal aims to generate stable revenue streams and enhance predictability of cash flows.
The origins of OceanPal trace back to General Maritime Corp., which was established in 2005 and listed on the NASDAQ.
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