OceanPal Inc. Discloses Share Repurchases Under Existing Board-Authorized Program; Establishes 0.8x mNAV as a Target Repurchase Threshold
OceanPal Inc. (SVRN)
Company Research
Source: PR Newswire
Company has repurchased a total of 345,168 shares prior to the reverse split under its previously announced $10 million program, with $7.3 million remaining in authorized capacity; Company targets buybacks under 0.8x mNAV when shares are undervaluedATHENS, Greece, April 9, 2026 /PRNewswire/ -- OceanPal Inc. (the "Company" or "OceanPal", NASDAQ: SVRN), today announced that it has repurchased a total of 345,168 shares of OceanPal common stock (as adjusted to reflect the reverse stock split) from the initiation of its previously authorized share buyback program through March 27th, 2026. The Company also announced that it will target a 0.8x multiple of net asset value ("mNAV") as a target repurchase threshold for future share repurchases, below which the Company will treat repurchases of its common stock as a primary capital allocation priority. As of the date of this press release, the Company has deployed $2.7 million under the program, with $7.3 million in authorized capacity remaining
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News
- OceanPal Inc. Discloses Share Repurchases Under Existing Board-Authorized Program; Establishes 0.8x mNAV as a Target Repurchase Threshold [Yahoo! Finance]Yahoo! Finance
- Oceanpal (SVRN) is now covered by <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>. They set a "sell (e+)" rating on the stock.MarketBeat
- Oceanpal (SVRN) was upgraded by <a style="font-weight:bold" href="https://www.wallstreetzen.com/newsletters/zen-ratings?ticker=SVRN&utm_campaign=getratings&utm_medium=online&utm_source=MarketBeat">Wall Street Zen</a> to "hold".MarketBeat
- OceanPal Inc. Reports Financial Results for the Year Ended December 31, 2025, and Introduces 2026 GuidancePR Newswire
- OceanPal Inc. Announces Reverse Stock Split to be Effective March 30, 2026PR Newswire
SVRN
Sec Filings
- 3/30/26 - Form 6-K
- 3/26/26 - Form 6-K
- 3/26/26 - Form 6-K
- SVRN's page on the SEC website