Short Interest in OceanPal Inc. (NASDAQ:OP) Drops By 12.6%

OceanPal Inc. (NASDAQ:OP) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 15,200 shares, a drop of 12.6% from the May 31st total of 17,400 shares. Based on an average daily trading volume, of 18,200 shares, the short-interest ratio is presently 0.8 days. Currently, 1.7% of the company’s shares are sold short.

OceanPal Price Performance

OP stock traded up $0.04 during midday trading on Monday, reaching $1.90. The stock had a trading volume of 6,415 shares, compared to its average volume of 27,454. OceanPal has a twelve month low of $1.26 and a twelve month high of $3.33. The business has a fifty day simple moving average of $2.27 and a two-hundred day simple moving average of $2.39.

OceanPal (NASDAQ:OP) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.23) EPS for the quarter. The business had revenue of $5.69 million for the quarter. OceanPal had a negative return on equity of 3.63% and a negative net margin of 16.24%.

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.