Golden Ocean Group Limited (NASDAQ:GOGL) Short Interest Down 7.4% in July

Golden Ocean Group Limited (NASDAQ:GOGL) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 3,400,000 shares, a decline of 7.4% from the July 15th total of 3,670,000 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is currently 2.2 days.

Analyst Ratings Changes

GOGL has been the subject of a number of research reports. Jefferies Financial Group downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 target price for the company. in a research report on Wednesday, May 22nd. StockNews.com lowered Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th.

Golden Ocean Group Price Performance

Shares of NASDAQ GOGL opened at $12.04 on Monday. The stock has a fifty day moving average of $12.91 and a 200-day moving average of $13.06. The stock has a market cap of $2.40 billion, a PE ratio of 12.95 and a beta of 1.16. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.25. Golden Ocean Group has a fifty-two week low of $6.89 and a fifty-two week high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last posted its earnings results on Wednesday, May 22nd. The shipping company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Golden Ocean Group had a return on equity of 8.67% and a net margin of 19.92%. The business had revenue of $196.70 million during the quarter. Equities research analysts anticipate that Golden Ocean Group will post 1.43 earnings per share for the current year.

Golden Ocean Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, June 7th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.97%. Golden Ocean Group’s payout ratio is 129.03%.

Institutional Trading of Golden Ocean Group

Several institutional investors have recently added to or reduced their stakes in GOGL. VisionPoint Advisory Group LLC purchased a new stake in Golden Ocean Group during the 4th quarter valued at about $41,000. Nisa Investment Advisors LLC boosted its stake in shares of Golden Ocean Group by 1,720.1% during the second quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 3,595 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Golden Ocean Group by 2,319.5% in the second quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock worth $127,000 after purchasing an additional 8,791 shares during the last quarter. Fifth Lane Capital LP bought a new position in shares of Golden Ocean Group during the first quarter valued at about $137,000. Finally, Lazard Asset Management LLC bought a new position in Golden Ocean Group in the 1st quarter worth $149,000. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company's dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.