OceanPal (NASDAQ:OP) Trading Down 3.3% – Here’s What Happened

Shares of OceanPal Inc. (NASDAQ:OP) fell 3.3% on Wednesday . The stock traded as low as $12.07 and last traded at $12.27. 70,092 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 12,412,086 shares. The stock had previously closed at $12.69.

OceanPal Price Performance

The firm has a fifty day moving average of $8.29 and a two-hundred day moving average of $16.11. The stock has a market capitalization of $82.16 million, a P/E ratio of -0.19 and a beta of 1.16.

Institutional Trading of OceanPal

An institutional investor recently bought a new position in OceanPal stock. Citadel Advisors LLC acquired a new stake in OceanPal Inc. (NASDAQ:OP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,841 shares of the company’s stock, valued at approximately $28,000. Citadel Advisors LLC owned approximately 0.34% of OceanPal at the end of the most recent reporting period.

OceanPal Company Profile

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.