Short Interest in Oceanpal Inc. (NASDAQ:SVRN) Increases By 216.0%

Oceanpal Inc. (NASDAQ:SVRN) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 8,862 shares, an increase of 216.0% from the June 15th total of 2,804 shares. Based on an average daily volume of 10,854 shares, the short-interest ratio is presently 0.8 days. Currently, 0.5% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SVRN shares. Wall Street Zen upgraded shares of Oceanpal to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Oceanpal in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Oceanpal Trading Down 1.9%

NASDAQ:SVRN traded down $0.16 on Monday, reaching $8.14. The company’s stock had a trading volume of 483 shares, compared to its average volume of 129,448. Oceanpal has a 12-month low of $3.12 and a 12-month high of $1,250.00. The company has a 50 day moving average of $9.15. The firm has a market capitalization of $15.31 million, a price-to-earnings ratio of -0.01 and a beta of 1.45.

Oceanpal (NASDAQ:SVRN) last released its quarterly earnings results on Thursday, March 26th. The company reported $306.60 earnings per share for the quarter. The business had revenue of $3.62 million for the quarter.

About Oceanpal

OceanPal Inc focuses on the provision of ocean-going transportation services. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains, as well as minor bulks comprising bauxite, phosphate, and fertilizers. As of November 29, 2021, its fleet consisted of 3 dry bulk vessels, which include 2 Panamax and 1 Capesize vessels. The company is based in Athens, Greece.