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

Oceanpal Inc. (NASDAQ:SVRN) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 7,432 shares, a decline of 69.1% from the May 14th total of 24,021 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 54,797 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

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

Oceanpal Price Performance

NASDAQ SVRN traded down $0.09 during trading hours on Friday, reaching $9.90. The company’s stock had a trading volume of 2,976 shares, compared to its average volume of 34,831. The stock has a market capitalization of $18.57 million, a price-to-earnings ratio of -0.01 and a beta of 1.44. Oceanpal has a 1-year low of $3.12 and a 1-year high of $1,585.00. The firm has a 50-day moving average price of $9.62.

Oceanpal (NASDAQ:SVRN) last released its quarterly earnings results on Thursday, March 26th. The company reported $306.60 earnings per share for the quarter. The business had revenue of $3.62 million during 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.