OceanPal (NASDAQ:OP) Trading Up 5.3% – What’s Next?

OceanPal Inc. (NASDAQ:OP) shares traded up 5.3% on Thursday . The company traded as high as $8.86 and last traded at $8.75. 28,383 shares changed 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 $8.31.

OceanPal Trading Down 0.6%

The company’s fifty day moving average is $7.57 and its 200 day moving average is $8.59. The company has a market cap of $58.56 million, a P/E ratio of -0.13 and a beta of 1.16.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in OceanPal stock. Citadel Advisors LLC bought a new stake in OceanPal Inc. (NASDAQ:OP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 22,841 shares of the company’s stock, valued at approximately $28,000. Citadel Advisors LLC owned about 0.34% of OceanPal at the end of the most recent quarter.

About OceanPal

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.