Short Interest in Oceanpal Inc. (NASDAQ:SVRN) Decreases By 62.3%

Oceanpal Inc. (NASDAQ:SVRN) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 2,804 shares, a drop of 62.3% from the May 31st total of 7,432 shares. Based on an average trading volume of 18,734 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings began coverage on shares of Oceanpal in a report on Thursday, April 2nd. They issued a “sell (e+)” rating on the stock. Wall Street Zen raised shares of Oceanpal to a “hold” rating in a report on Saturday, April 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Oceanpal Price Performance

NASDAQ:SVRN traded down $0.41 during trading hours on Tuesday, hitting $7.83. The company’s stock had a trading volume of 10,258 shares, compared to its average volume of 137,253. The company has a 50-day moving average price of $9.32. The firm has a market capitalization of $14.72 million, a P/E ratio of -0.01 and a beta of 1.43. Oceanpal has a 52-week low of $3.12 and a 52-week high of $1,250.00.

Oceanpal (NASDAQ:SVRN) last issued its earnings results on Thursday, March 26th. The company reported $306.60 EPS for the quarter. The company had revenue of $3.62 million for the quarter.

Oceanpal Company Profile

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.