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

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

Analysts Set New Price Targets

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

Oceanpal Stock Performance

NASDAQ:SVRN opened at $20.32 on Friday. The stock has a market capitalization of $38.20 million, a price-to-earnings ratio of -0.02 and a beta of 1.52. Oceanpal has a fifty-two week low of $3.12 and a fifty-two week high of $47.56. The company’s 50 day moving average is $8.48.

About Oceanpal

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.