Oceanpal Inc. (NASDAQ:SVRN) Sees Large Decline in Short Interest

Oceanpal Inc. (NASDAQ:SVRN) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totaling 3,807 shares, a drop of 57.0% from the June 30th total of 8,862 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 8,571 shares, the days-to-cover ratio is presently 0.4 days.

Oceanpal Stock Performance

NASDAQ SVRN opened at $6.71 on Monday. The company has a market cap of $12.59 million, a price-to-earnings ratio of -0.01 and a beta of 1.45. Oceanpal has a 1-year low of $3.12 and a 1-year high of $108.00. The firm has a 50-day moving average of $9.18.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SVRN shares. Wall Street Zen raised shares of Oceanpal to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Oceanpal in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Oceanpal presently has a consensus rating of “Sell”.

About Oceanpal

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.