Short Interest in Golden Ocean Group Limited (NASDAQ:GOGL) Increases By 7.3%

Golden Ocean Group Limited (NASDAQ:GOGL) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 3,670,000 shares, a growth of 7.3% from the June 30th total of 3,420,000 shares. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 3.1% of the shares of the company are short sold.

Golden Ocean Group Price Performance

Shares of GOGL traded down $0.19 during midday trading on Thursday, hitting $12.23. 214,777 shares of the company traded hands, compared to its average volume of 1,650,151. The firm has a 50 day moving average of $13.49 and a 200-day moving average of $12.92. Golden Ocean Group has a 52 week low of $6.89 and a 52 week high of $15.77. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 13.15 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 (NASDAQ:GOGL) last released its quarterly earnings data on Wednesday, May 22nd. The shipping company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. Golden Ocean Group had a net margin of 19.92% and a return on equity of 8.67%. The business had revenue of $196.70 million during the quarter. On average, analysts forecast that Golden Ocean Group will post 1.43 EPS for the current fiscal year.

Golden Ocean Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.81%. The ex-dividend date of this dividend was Friday, June 7th. Golden Ocean Group’s payout ratio is 129.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GOGL. VisionPoint Advisory Group LLC bought a new position in shares of Golden Ocean Group in the 4th quarter valued at about $41,000. Nisa Investment Advisors LLC lifted its holdings in shares of Golden Ocean Group by 1,720.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after acquiring an additional 3,595 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Golden Ocean Group in the 4th quarter valued at about $53,000. Fifth Lane Capital LP bought a new stake in Golden Ocean Group in the first quarter worth about $137,000. Finally, Lazard Asset Management LLC bought a new stake in Golden Ocean Group in the first quarter worth about $149,000. Institutional investors own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Jefferies Financial Group lowered 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 raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd.

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.