OceanPal Inc. (NASDAQ:OP) Short Interest Update

OceanPal Inc. (NASDAQ:OP – Get Rating) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 1,680,000 shares, a drop of 16.4% from the April 15th total of 2,010,000 shares. Based on an average trading volume of 5,220,000 shares, the short-interest ratio is presently 0.3 days. Currently, 7.6% of the shares of the stock are sold short.

OP traded up $0.00 during midday trading on Thursday, hitting $0.59. The company had a trading volume of 1,513 shares, compared to its average volume of 662,861. OceanPal has a twelve month low of $0.39 and a twelve month high of $12.09. The firm has a 50-day moving average price of $0.64.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 11th. Investors of record on Friday, April 1st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 33.90%. The ex-dividend date was Thursday, March 31st.

A number of hedge funds and other institutional investors have recently modified their holdings of OP. Susquehanna International Group LLP bought a new stake in shares of OceanPal in the fourth quarter worth $227,000. Stifel Financial Corp acquired a new position in shares of OceanPal in the fourth quarter valued at about $129,000. Lesa Sroufe & Co acquired a new position in shares of OceanPal in the fourth quarter valued at about $112,000. Raymond James & Associates bought a new stake in OceanPal during the fourth quarter worth about $53,000. Finally, Russell Investments Group Ltd. bought a new stake in OceanPal during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 14.31% of the company’s stock.

About OceanPal (Get Rating)

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.

Further Reading