Golden Ocean Group Limited (NASDAQ:GOGL) Short Interest Update

Golden Ocean Group Limited (NASDAQ:GOGL) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 3,010,000 shares, a decline of 15.4% from the September 15th total of 3,560,000 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,390,000 shares, the short-interest ratio is presently 2.2 days.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group cut their target price on Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. StockNews.com cut Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Golden Ocean Group by 1,720.1% in 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 increased its holdings in Golden Ocean Group by 2,319.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock worth $127,000 after acquiring an additional 8,791 shares in the last quarter. Fifth Lane Capital LP acquired a new position in Golden Ocean Group during the first quarter worth $137,000. Lazard Asset Management LLC acquired a new position in Golden Ocean Group during the first quarter worth $149,000. Finally, Bayesian Capital Management LP purchased a new position in Golden Ocean Group during the first quarter valued at $151,000. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Stock Performance

Shares of NASDAQ:GOGL traded down $0.54 during midday trading on Monday, reaching $11.75. The company’s stock had a trading volume of 1,880,440 shares, compared to its average volume of 1,601,873. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $12.18 and a 200 day moving average of $13.10. Golden Ocean Group has a twelve month low of $7.09 and a twelve month high of $15.77. The firm has a market capitalization of $2.35 billion, a PE ratio of 10.97 and a beta of 1.17.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The company had revenue of $197.35 million for the quarter, compared to the consensus estimate of $187.74 million. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. On average, equities analysts expect that Golden Ocean Group will post 1.35 EPS for the current fiscal year.

Golden Ocean Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Wednesday, September 11th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date was Wednesday, September 11th. Golden Ocean Group’s dividend payout ratio (DPR) is presently 112.15%.

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.