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

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

OceanPal Stock Up 0.5 %

OceanPal stock traded up $0.01 during mid-day trading on Friday, hitting $1.84. 19,335 shares of the company’s stock traded hands, compared to its average volume of 17,438. The firm has a 50 day moving average price of $2.03 and a 200 day moving average price of $2.32. The company has a market cap of $13.71 million, a PE ratio of -0.65 and a beta of 0.52. OceanPal has a one year low of $1.53 and a one year high of $3.33.

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

About OceanPal

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.