Short Interest in Oceanpal Inc. (NASDAQ:SVRN) Declines By 35.6%

Oceanpal Inc. (NASDAQ:SVRN) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 13,222 shares, a decrease of 35.6% from the April 15th total of 20,518 shares. Based on an average daily volume of 12,454 shares, the short-interest ratio is currently 1.1 days. Currently, 0.7% of the shares of the stock are sold short.

Oceanpal Stock Up 30.7%

SVRN stock traded up $1.68 during midday trading on Tuesday, hitting $7.16. The company’s stock had a trading volume of 67,943 shares, compared to its average volume of 169,579. Oceanpal has a 52-week low of $3.12 and a 52-week high of $1,585.00. The stock has a market capitalization of $13.47 million, a PE ratio of -0.01 and a beta of 1.34.

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

Analysts Set New Price Targets

A number of analysts have commented on SVRN shares. Weiss Ratings started coverage on shares of Oceanpal in a report on Thursday, April 2nd. They issued a “sell (e+)” rating for the company. Wall Street Zen upgraded shares of Oceanpal to a “hold” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus 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.