OceanPal Inc. (NASDAQ:OP – Get Free Report)’s stock price traded up 5.3% during mid-day trading on Thursday . The stock traded as high as $8.86 and last traded at $8.75. Approximately 28,383 shares changed hands during trading, a decline of 100% from the average daily volume of 12,412,086 shares. The stock had previously closed at $8.31.
OceanPal Stock Up 5.3%
The stock’s 50-day moving average price is $7.60 and its 200 day moving average price is $8.59. The firm has a market cap of $58.59 million, a price-to-earnings ratio of -0.13 and a beta of 1.16.
Hedge Funds Weigh In On OceanPal
An institutional investor recently bought a new position in OceanPal stock. Citadel Advisors LLC acquired 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 firm acquired 22,841 shares of the company’s stock, valued at approximately $28,000. Citadel Advisors LLC owned 0.34% of OceanPal at the end of the most recent quarter.
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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