OceanPal (NASDAQ:OP) Releases Quarterly Earnings Results

OceanPal (NASDAQ:OP) issued its quarterly earnings results on Wednesday. The company reported ($0.50) earnings per share (EPS) for the quarter, Zacks reports. OceanPal had a negative net margin of 37.37% and a negative return on equity of 10.69%.

OceanPal Trading Up 7.9 %

NASDAQ:OP traded up $0.06 on Wednesday, reaching $0.82. 1,763 shares of the stock traded hands, compared to its average volume of 11,963. The company’s fifty day simple moving average is $0.99 and its 200 day simple moving average is $1.27. The company has a market capitalization of $6.11 million, a price-to-earnings ratio of -0.43 and a beta of 0.53. OceanPal has a 12 month low of $0.75 and a 12 month high of $2.92.

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.