Golden Ocean Group Limited (NASDAQ:GOGL) Short Interest Down 5.8% in January

Golden Ocean Group Limited (NASDAQ:GOGL) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 4,560,000 shares, a drop of 5.8% from the January 15th total of 4,840,000 shares. Based on an average trading volume of 1,680,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 3.8% of the company’s shares are sold short.

Golden Ocean Group Stock Performance

Shares of GOGL opened at $9.56 on Wednesday. Golden Ocean Group has a 1 year low of $8.52 and a 1 year high of $15.77. The stock has a market capitalization of $1.91 billion, a PE ratio of 7.90 and a beta of 1.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a 50-day simple moving average of $9.08 and a 200-day simple moving average of $10.74.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. On average, analysts predict that Golden Ocean Group will post 1.14 earnings per share for the current fiscal year.

Golden Ocean Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 9th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.55%. Golden Ocean Group’s payout ratio is currently 99.17%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOGL. Pareto Securities reiterated a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st. Jefferies Financial Group cut their target price on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th.

Hedge Funds Weigh In On Golden Ocean Group

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its holdings in Golden Ocean Group by 683.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock worth $25,000 after buying an additional 2,391 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Golden Ocean Group during the third quarter worth approximately $28,000. Sterling Capital Management LLC lifted its stake in Golden Ocean Group by 830.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock worth $35,000 after purchasing an additional 3,478 shares during the last quarter. Quarry LP boosted its holdings in Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 3,294 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Golden Ocean Group in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 22.00% of the company’s stock.

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.