OceanPal Inc. (NASDAQ:OP) Sees Large Decline in Short Interest

OceanPal Inc. (NASDAQ:OP) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 7,900 shares, a drop of 21.0% from the January 15th total of 10,000 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 17,600 shares, the days-to-cover ratio is currently 0.4 days.

OceanPal Price Performance

Shares of OP stock opened at $1.13 on Friday. The company has a 50-day moving average of $1.21 and a two-hundred day moving average of $1.46. The firm has a market cap of $8.42 million, a PE ratio of -0.60 and a beta of 0.53. OceanPal has a 1-year low of $1.02 and a 1-year high of $3.15.

OceanPal (NASDAQ:OP) last posted its earnings results on Friday, December 20th. The company reported ($0.08) earnings per share for the quarter. OceanPal had a negative net margin of 37.37% and a negative return on equity of 10.69%.

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.