Oceanpal Inc. (NASDAQ:SVRN) Short Interest Up 81.7% in May

Oceanpal Inc. (NASDAQ:SVRN) was the target of a large increase in short interest during 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. Based on an average daily volume of 8,561 shares, the short-interest ratio is currently 2.8 days. Currently, 1.3% of the company’s shares are short sold.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Oceanpal to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings began coverage on shares of Oceanpal in a research note on Thursday, April 2nd. They issued a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Oceanpal Price Performance

Shares of Oceanpal stock traded up $0.58 during trading hours on Wednesday, reaching $12.08. The stock had a trading volume of 23,773 shares, compared to its average volume of 158,415. Oceanpal has a 1 year low of $3.12 and a 1 year high of $1,585.00. The company has a market cap of $22.70 million, a price-to-earnings ratio of -0.01 and a beta of 1.44.

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

About Oceanpal

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.