Oceanpal Inc. (NASDAQ:SVRN) Short Interest Update

Oceanpal Inc. (NASDAQ:SVRN) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 15,251 shares, a growth of 278.6% from the August 31st total of 4,028 shares. Based on an average daily volume of 209,209 shares, the short-interest ratio is presently 0.1 days. Currently, 0.8% of the company’s stock are sold short.

Oceanpal Stock Up 11.9%

SVRN stock traded up $5.03 during trading on Friday, hitting $47.26. 245,218 shares of the company’s stock traded hands, compared to its average volume of 201,274. Oceanpal has a 52 week low of $3.12 and a 52 week high of $52.00. The firm’s fifty day moving average price is $11.38. The stock has a market cap of $88.85 million, a PE ratio of -0.05 and a beta of 1.52.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Oceanpal from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

About Oceanpal

OceanPal Inc is a maritime shipping company focused on the ownership and operation of dry bulk vessels. Its ships transport internationally traded commodities, including iron ore, coal, grain and other bulk cargoes, for customers and charterers in global markets.

The company was established in 2021 through a spin-off from Diana Shipping Inc, an international shipping company. OceanPal has historically operated vessels in the Panamax and Capesize segments, with revenues generally generated through time charter and voyage charter arrangements.

OceanPal’s vessels serve international trade routes and may operate across a range of geographic markets depending on charter assignments.