OceanPal Inc. (NASDAQ:OP – Get Free Report) rose 2.5% during trading on Thursday. The company traded as high as $46.00 and last traded at $44.81. 85,417 shares were traded during mid-day trading, a decline of 99% from the average session volume of 12,412,086 shares. The stock had previously closed at $43.72.
OceanPal Stock Up 2.5%
The firm has a 50-day moving average of $17.89 and a 200 day moving average of $11.95. The stock has a market capitalization of $300.05 million, a P/E ratio of -0.68 and a beta of 1.16.
About OceanPal
OceanPal Inc (NASDAQ: OP) is a dry bulk shipping company that owns and operates vessels used to transport major commodities worldwide. Its business is focused on the seaborne movement of cargoes such as iron ore, grain, coal and other dry bulk materials.
The company generally generates revenue by chartering its vessels to international customers, including through time charters and voyage charters. Its ships serve global trade routes, with employment and geographic coverage varying according to charter contracts and market conditions.
OceanPal was established in 2021 following the spin-off of vessels from Diana Shipping Inc, another publicly traded dry bulk shipping company.
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