Oceanpal Inc. (NASDAQ:SVRN) Shares Shorted: Short Interest Up 353.5% in September

Oceanpal Inc. (NASDAQ:SVRN) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 69,157 shares, an increase of 353.5% from the September 15th total of 15,251 shares. Based on an average daily volume of 313,654 shares, the short-interest ratio is presently 0.2 days. Currently, 3.7% of the company’s stock are short sold.

Oceanpal Trading Up 8.0%

Oceanpal stock traded up $3.54 during midday trading on Monday, reaching $47.54. 98,771 shares of the company’s stock were exchanged, compared to its average volume of 123,678. The firm has a 50-day moving average price of $19.30. The company has a market cap of $89.38 million, a price-to-earnings ratio of -0.05 and a beta of 0.94. Oceanpal has a 52 week low of $3.12 and a 52 week high of $74.74.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Oceanpal from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Oceanpal Company Profile

OceanPal Inc is a maritime transportation company focused on owning and operating dry bulk vessels. Its ships are used to transport major dry bulk commodities, including iron ore, grain, coal and other bulk cargoes.

The company serves international trade routes and typically makes its vessels available to customers through time charters, voyage charters or other commercial arrangements. Its operations are therefore tied to global shipping demand and the movement of commodities between producing and consuming regions.

OceanPal was established as an independent shipping company following its separation from Diana Shipping Inc The company is headquartered in Greece and has historically operated a fleet of dry bulk carriers.