Oceanpal Inc. (NASDAQ:SVRN) Stock Short Interest Jumps 353.5%

Oceanpal Inc. (NASDAQ:SVRN) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 69,157 shares, an increase of 353.5% from the September 15th total of 15,251 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average trading volume of 313,654 shares, the short-interest ratio is presently 0.2 days.

Oceanpal Stock Performance

Oceanpal stock traded up $4.88 during mid-day trading on Friday, reaching $44.00. 86,490 shares of the company’s stock traded hands, compared to its average volume of 266,461. Oceanpal has a 12-month low of $3.12 and a 12-month high of $74.74. The firm’s 50 day moving average price is $19.30. The stock has a market capitalization of $82.54 million, a P/E ratio of -0.04 and a beta of 0.94.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Oceanpal from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Oceanpal currently has an average rating of “Sell”.

About Oceanpal

OceanPal Inc is a maritime transportation company focused on owning and operating dry bulk vessels. Its ships are used to transport major dry bulk commodities, including iron ore, grain, coal and other bulk cargoes.

The company serves international trade routes and typically makes its vessels available to customers through time charters, voyage charters or other commercial arrangements. Its operations are therefore tied to global shipping demand and the movement of commodities between producing and consuming regions.

OceanPal was established as an independent shipping company following its separation from Diana Shipping Inc The company is headquartered in Greece and has historically operated a fleet of dry bulk carriers.