Short Interest in OceanPal Inc. (NASDAQ:OP) Drops By 20.7%

OceanPal Inc. (NASDAQ:OP) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 22,600 shares, a decrease of 20.7% from the June 30th total of 28,500 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 18,800 shares, the short-interest ratio is currently 1.2 days.

OceanPal Stock Performance

OceanPal stock traded up $0.01 during midday trading on Friday, reaching $1.84. 19,335 shares of the stock were exchanged, compared to its average volume of 17,438. The company’s fifty day moving average is $2.03 and its 200-day moving average is $2.32. The firm has a market cap of $13.71 million, a PE ratio of -0.65 and a beta of 0.52. OceanPal has a 52 week low of $1.53 and a 52 week high of $3.33.

OceanPal (NASDAQ:OP) last posted its earnings results on Thursday, June 6th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $5.69 million for the quarter. OceanPal had a negative return on equity of 3.63% and a negative net margin of 16.24%.

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.