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ATHENS - OceanPal Inc. (NASDAQ: OP), a global shipping company that owns and operates a fleet of dry bulk vessels and product tankers, has been notified by The Nasdaq Stock Market that it is currently not in compliance with the minimum bid price requirement. The notification, dated April 17, 2025, stated that the company’s common stock had closed below the required $1.00 per share for 30 consecutive business days. The stock currently trades at $0.69, having declined over 72% in the past year according to InvestingPro data.
The company now has a 180-day grace period, until October 14, 2025, to regain compliance with The Nasdaq Capital Market’s minimum bid price rule. OceanPal Inc. intends to monitor its stock’s closing bid price and is considering options to address the deficiency. To regain compliance, the company’s stock must maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days within this period. InvestingPro analysis suggests the stock is currently undervalued, though its Financial Health Score remains weak at 1.31 out of 5.
If OceanPal does not achieve compliance within the allotted timeframe but satisfies all other listing criteria, it may be granted an additional 180-day period to meet the requirements. Throughout the grace period, the company’s stock will remain listed and continue to trade on The Nasdaq Capital Market.
The company has clarified that its business operations remain unaffected by the Nasdaq notification. Despite market challenges, OceanPal’s revenue grew by 35.58% in the last twelve months, with a gross profit margin of 36.63%. The company, which specializes in the seaborne transportation of various bulk commodities, including iron ore, coal, grain, and refined petroleum products, maintains a healthy current ratio of 2.77 and holds more cash than debt on its balance sheet. Their strategic focus lies in maximizing long-term shareholder value through a mix of time charter trips and spot charters.
This announcement is based on a press release statement and includes forward-looking statements subject to risks and uncertainties, such as market conditions, operating expenses, and global political events. OceanPal Inc. has expressed that they cannot guarantee the achievement of their projections due to these uncertainties. With a market capitalization of just $5.18 million and trading at 0.06 times book value, the company has not disclosed any specific plans regarding actions to increase its stock price at this time.
In other recent news, OceanPal Inc. has partnered with B2i Digital to enhance its investor outreach efforts. The collaboration aims to highlight OceanPal’s debt-free status and operational narrative to a broader audience. OceanPal operates a fleet of three Panamax dry bulk vessels and one MR2 tanker vessel, strategically employed to maximize revenue. The company emphasizes its commitment to shareholder value through efficient operations in the global shipping market. David Shapiro, CEO of B2i Digital, expressed pride in featuring OceanPal, citing the company’s disciplined financial approach. Robert Perri, CEO of OceanPal, highlighted the importance of improving investor relations. B2i Digital specializes in digital marketing and investor conferences, aiming to connect companies with retail and institutional investors. This partnership is expected to leverage B2i Digital’s expertise to introduce OceanPal’s story to a wider investor base.
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