Short Interest in Oceanpal Inc. (NASDAQ:SVRN) Rises By 81.7%

Oceanpal Inc. (NASDAQ:SVRN) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 24,021 shares, an increase of 81.7% from the April 30th total of 13,222 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average trading volume of 8,561 shares, the short-interest ratio is presently 2.8 days.

Analysts Set New Price Targets

A number of brokerages have weighed in on SVRN. Wall Street Zen upgraded shares of Oceanpal to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings started coverage on shares of Oceanpal in a research report on Thursday, April 2nd. They issued a “sell (e+)” rating for the company. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Oceanpal presently has a consensus rating of “Sell”.

Oceanpal Stock Up 10.4%

Oceanpal stock opened at $12.70 on Thursday. The company has a 50 day moving average of $9.51. The company has a market capitalization of $23.88 million, a PE ratio of -0.01 and a beta of 1.44. Oceanpal has a 12-month low of $3.12 and a 12-month high of $1,585.00.

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

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.