Oceanpal Inc. (NASDAQ:SVRN) Short Interest Up 216.0% in June

Oceanpal Inc. (NASDAQ:SVRN) saw a significant increase in short interest in 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. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 10,854 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

SVRN has been the subject of several research analyst reports. Wall Street Zen upgraded Oceanpal to a “hold” rating in a research 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 data from MarketBeat, the stock currently has an average rating of “Sell”.

Oceanpal Stock Performance

SVRN traded down $0.16 during trading hours on Monday, hitting $8.14. 483 shares of the company’s stock were exchanged, 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 stock’s 50 day moving average price is $9.15. The stock has a market cap of $15.31 million, a price-to-earnings ratio of -0.01 and a beta of 1.45.

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