Short Interest in Golden Ocean Group Limited (NASDAQ:GOGL) Increases By 10.1%

Golden Ocean Group Limited (NASDAQ:GOGL) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 4,790,000 shares, a growth of 10.1% from the November 30th total of 4,350,000 shares. Currently, 4.0% of the company’s shares are short sold. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is currently 3.1 days.

Golden Ocean Group Stock Up 2.2 %

Shares of Golden Ocean Group stock traded up $0.19 during midday trading on Wednesday, reaching $8.96. 1,069,633 shares of the company’s stock traded hands, compared to its average volume of 1,595,862. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. Golden Ocean Group has a 52 week low of $8.52 and a 52 week high of $15.77. The company’s 50 day simple moving average is $10.26 and its 200 day simple moving average is $11.70. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 7.40 and a beta of 1.16.

Golden Ocean Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.20 annualized dividend and a yield of 13.39%. Golden Ocean Group’s dividend payout ratio (DPR) is presently 99.17%.

Institutional Trading of Golden Ocean Group

A number of institutional investors and hedge funds have recently modified their holdings of GOGL. Point72 Hong Kong Ltd bought a new position in Golden Ocean Group in the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC increased its stake 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 period. FMR LLC lifted its position in shares of Golden Ocean Group by 146.8% during the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock worth $163,000 after purchasing an additional 7,263 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Golden Ocean Group by 16.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock valued at $225,000 after purchasing an additional 2,267 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Golden Ocean Group by 96.3% in the 3rd quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock valued at $264,000 after buying an additional 9,684 shares during the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOGL. StockNews.com lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Jefferies Financial Group decreased their target price on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Finally, Pareto Securities reissued a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st.

About Golden Ocean Group

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.