OceanPal Inc. (NASDAQ:OP – Get Free Report)’s share price dropped 2.3% on Thursday . The company traded as low as $9.99 and last traded at $9.99. 19,901 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 12,412,086 shares. The stock had previously closed at $10.2284.
OceanPal Trading Up 0.3%
The firm’s 50-day moving average price is $9.68 and its 200-day moving average price is $14.13. The stock has a market capitalization of $67.09 million, a PE ratio of -0.15 and a beta of 1.16.
Institutional Investors Weigh In On OceanPal
An institutional investor recently bought a new stake in OceanPal stock. Sabby Management LLC bought a new position in OceanPal Inc. (NASDAQ:OP – Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 668,969 shares of the company’s stock, valued at approximately $823,000. OceanPal accounts for 0.9% of Sabby Management LLC’s investment portfolio, making the stock its 8th biggest position. Sabby Management LLC owned about 9.99% of OceanPal at the end of the most recent reporting period.
OceanPal Company Profile
OceanPal Inc (NASDAQ: OP) is a Bermuda?incorporated shipping company focused on the ownership and operation of modern crude oil tankers on a long?term time charter basis. The company’s fleet includes both very large crude carriers (VLCCs) and Suezmax vessels, constructed at leading shipyards and maintained to high technical and safety standards. By securing multi?year charter agreements with major oil producers and trading houses, OceanPal aims to generate stable revenue streams and enhance predictability of cash flows.
The origins of OceanPal trace back to General Maritime Corp., which was established in 2005 and listed on the NASDAQ.
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