OceanPal Inc. (NASDAQ:OP) Short Interest Down 96.6% in August

OceanPal Inc. (NASDAQ:OP) was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 72,800 shares, adeclineof96.6% from the July 31st total of 2,140,000 shares. Approximately0.1% of the shares of the company are sold short. Based on an average daily volume of 1,110,000 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 1,110,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately0.1% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of OceanPal to a “sell” rating in a report on Saturday.

OceanPal Stock Down 11.5%

Shares of OP stock traded down $0.15 during trading hours on Tuesday, hitting $1.15. 506,840 shares of the company’s stock were exchanged, compared to its average volume of 447,503. The firm has a 50 day moving average of $17.94 and a two-hundred day moving average of $21.23. OceanPal has a fifty-two week low of $1.15 and a fifty-two week high of $79.25. The firm has a market cap of $349,904.00, a P/E ratio of -0.02 and a beta of 1.14.

About OceanPal

OceanPal Inc provides ocean-going transportation services worldwide. The company owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal, and grains, as well as minor bulks, including bauxite, phosphate, and fertilizers. As of December 31, 2023, its fleet consisted of five dry bulk carriers, which include three Panamaxes and two Capesize vessels with a cargo carrying capacity of approximately 572,599 deadweight tons.