Oceanpal Inc. (NASDAQ:SVRN) Short Interest Down 69.1% in May

Oceanpal Inc. (NASDAQ:SVRN) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 7,432 shares, a decline of 69.1% from the May 14th total of 24,021 shares. Based on an average trading volume of 54,797 shares, the short-interest ratio is currently 0.1 days. Currently, 0.4% of the shares of the stock are short sold.

Oceanpal Price Performance

Shares of NASDAQ:SVRN traded down $0.09 during midday trading on Friday, hitting $9.90. 2,976 shares of the stock were exchanged, compared to its average volume of 149,639. The firm has a market cap of $18.61 million, a PE ratio of -0.01 and a beta of 1.44. The business’s 50-day simple moving average is $9.61. Oceanpal has a 12 month low of $3.12 and a 12 month high of $1,585.00.

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 firm had revenue of $3.62 million for the quarter.

Analyst Ratings Changes

SVRN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Oceanpal to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings initiated coverage on Oceanpal in a research report on Thursday, April 2nd. They issued a “sell (e+)” rating on the stock. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

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.