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

Oceanpal Inc. (NASDAQ:SVRN) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 4,028 shares, a drop of 32.1% from the August 15th total of 5,935 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 10,631 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Oceanpal in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Oceanpal has an average rating of “Sell”.

Oceanpal Stock Performance

Shares of SVRN opened at $14.19 on Friday. Oceanpal has a one year low of $3.12 and a one year high of $47.56. The firm has a market cap of $26.68 million, a P/E ratio of -0.01 and a beta of 1.52. The company has a 50-day moving average price of $8.24.

Oceanpal Company Profile

OceanPal Inc is a maritime shipping company focused on the ownership and operation of dry bulk vessels. Its ships transport internationally traded commodities, including iron ore, coal, grain and other bulk cargoes, for customers and charterers in global markets.

The company was established in 2021 through a spin-off from Diana Shipping Inc, an international shipping company. OceanPal has historically operated vessels in the Panamax and Capesize segments, with revenues generally generated through time charter and voyage charter arrangements.

OceanPal’s vessels serve international trade routes and may operate across a range of geographic markets depending on charter assignments.