Short Interest in OceanPal Inc. (NASDAQ:OP) Expands By 100.0%

OceanPal Inc. (NASDAQ:OP) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 18,400 shares, a growth of 100.0% from the September 15th total of 9,200 shares. Currently, 5.1% of the company’s stock are sold short. Based on an average daily trading volume, of 21,200 shares, the short-interest ratio is presently 0.9 days.

OceanPal Stock Performance

Shares of NASDAQ OP traded up $0.05 during midday trading on Friday, hitting $1.69. 17,124 shares of the stock traded hands, compared to its average volume of 25,031. OceanPal has a one year low of $1.40 and a one year high of $3.15. The business has a 50 day moving average price of $1.61 and a two-hundred day moving average price of $2.04. The company has a market cap of $12.55 million, a PE ratio of -0.60 and a beta of 0.54.

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

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.