OceanPal Inc. (NASDAQ:OP) Sees Significant Growth in Short Interest

OceanPal Inc. (NASDAQ:OP) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 9,200 shares, a growth of 228.6% from the August 31st total of 2,800 shares. Approximately 4.4% of the company’s stock are short sold. Based on an average daily volume of 23,700 shares, the short-interest ratio is currently 0.4 days.

OceanPal Stock Performance

Shares of NASDAQ:OP traded up $0.01 during trading on Wednesday, hitting $1.55. The company’s stock had a trading volume of 5,830 shares, compared to its average volume of 25,602. The company has a market capitalization of $11.55 million, a PE ratio of -0.55 and a beta of 0.53. OceanPal has a fifty-two week low of $1.40 and a fifty-two week high of $3.33. The stock’s 50-day moving average price is $1.66 and its two-hundred day moving average price is $2.12.

OceanPal (NASDAQ:OP) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($1.16) earnings per share (EPS) for the quarter. The firm had revenue of $6.74 million for the quarter. OceanPal had a negative net margin of 58.08% and a negative return on equity of 14.26%.

OceanPal Company Profile

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.