Short Interest in Golden Ocean Group (NASDAQ:GOGL) Declines By 24.5%

Golden Ocean Group (NASDAQ:GOGL) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 1,080,591 shares, a decline of 24.5% from the February 15th total of 1,430,588 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 233,978 shares, the short-interest ratio is presently 4.6 days.

A number of large investors have recently bought and sold shares of the stock. Northern Trust Corp raised its position in Golden Ocean Group by 3.3% during the second quarter. Northern Trust Corp now owns 29,988 shares of the shipping company’s stock valued at $202,000 after buying an additional 970 shares during the period. Ameriprise Financial Inc. raised its position in Golden Ocean Group by 10.7% during the second quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock valued at $128,000 after buying an additional 1,840 shares during the period. WealthTrust Axiom LLC raised its position in Golden Ocean Group by 24.0% during the fourth quarter. WealthTrust Axiom LLC now owns 31,671 shares of the shipping company’s stock valued at $258,000 after buying an additional 6,140 shares during the period. Goldman Sachs Group Inc. raised its position in Golden Ocean Group by 34.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 54,452 shares of the shipping company’s stock valued at $443,000 after buying an additional 14,016 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in Golden Ocean Group during the third quarter valued at $128,000. 26.92% of the stock is currently owned by hedge funds and other institutional investors.

How to Become a New Pot Stock Millionaire

GOGL has been the topic of a number of research reports. BidaskClub downgraded Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 21st. Morgan Stanley downgraded Golden Ocean Group from an “overweight” rating to an “equal weight” rating and set a $10.00 price objective on the stock. in a research note on Monday, February 12th. Clarkson Capital raised Golden Ocean Group from a “neutral” rating to a “buy” rating in a research note on Monday, February 12th. TheStreet raised Golden Ocean Group from a “d+” rating to a “c” rating in a research note on Tuesday, February 20th. Finally, JPMorgan Chase boosted their target price on Golden Ocean Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Friday, March 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.38.

Shares of Golden Ocean Group stock traded down $0.35 on Friday, reaching $7.28. 141,100 shares of the company were exchanged, compared to its average volume of 208,287. The firm has a market capitalization of $1,100.61, a PE ratio of -364.00 and a beta of 1.95. The company has a quick ratio of 2.34, a current ratio of 2.45 and a debt-to-equity ratio of 0.79. Golden Ocean Group has a fifty-two week low of $5.43 and a fifty-two week high of $9.95.

Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Tuesday, February 20th. The shipping company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $151.45 million for the quarter, compared to analyst estimates of $104.91 million. Golden Ocean Group had a negative return on equity of 0.17% and a negative net margin of 0.51%. analysts expect that Golden Ocean Group will post 0.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Monday, March 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.49%. This is a positive change from Golden Ocean Group’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, March 2nd. Golden Ocean Group’s payout ratio is presently -2,000.00%.

TRADEMARK VIOLATION NOTICE: This story was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. & international trademark and copyright laws. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/04/07/golden-ocean-group-ltd-gogl-short-interest-down-24-5-in-february.html.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, engages in the transportation of bulk commodities worldwide. It owns and operates a fleet of dry bulk vessels, including Newcastlemax, Capesize, Kamsarmax, Panamax, and Supramax vessels. The company transports bulk commodities, such as ores, coal, grains, and fertilizers along worldwide shipping routes.

Receive News & Ratings for Golden Ocean Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golden Ocean Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply