OceanPal (NASDAQ:OP) Shares Down 9.2% – Here’s Why

Posted by ABMN Staff on Feb 6th, 2026

OceanPal Inc. (NASDAQ:OP – Get Free Report) fell 9.2% on Thursday . The company traded as low as $0.84 and last traded at $0.8657. 160,163 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 454,017 shares. The stock had previously closed at $0.9532.

OceanPal Stock Down 9.2%

The company has a market cap of $5.80 million, a PE ratio of -0.01 and a beta of 1.16. The business’s 50 day moving average price is $1.18 and its 200-day moving average price is $1.83.

OceanPal announced that its board has initiated a stock buyback program on Monday, December 1st that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to buy up to 109% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On OceanPal

An institutional investor recently bought a new position in OceanPal stock. Citadel Advisors LLC bought a new position in shares of OceanPal Inc. (NASDAQ:OP – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,841 shares of the company’s stock, valued at approximately $28,000. Citadel Advisors LLC owned about 0.34% of OceanPal as of its most recent filing with the Securities and Exchange Commission (SEC).

About OceanPal

(Get Free Report)

OceanPal Inc (NASDAQ: OP) is a Bermuda‐incorporated shipping company focused on the ownership and operation of modern crude oil tankers on a long‐term time charter basis. The company’s fleet includes both very large crude carriers (VLCCs) and Suezmax vessels, constructed at leading shipyards and maintained to high technical and safety standards. By securing multi‐year charter agreements with major oil producers and trading houses, OceanPal aims to generate stable revenue streams and enhance predictability of cash flows.

The origins of OceanPal trace back to General Maritime Corp., which was established in 2005 and listed on the NASDAQ.