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

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOGL shares. Pareto Securities reiterated a "hold" rating and issued a $12.50 price target on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group dropped their target price on shares of 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, StockNews.com cut shares of Golden Ocean Group from a "buy" rating to a "hold" rating in a research report on Saturday, October 5th.

Golden Ocean Group Stock Up 2.2 %

GOGL stock traded up $0.19 during midday trading on Wednesday, hitting $8.96. The stock had a trading volume of 1,069,633 shares, compared to its average volume of 1,595,862. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 7.40 and a beta of 1.16. The business has a 50-day moving average of $10.26 and a two-hundred day moving average of $11.70. Golden Ocean Group has a 52-week low of $8.52 and a 52-week high of $15.77.

Golden Ocean Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 9th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.20 annualized dividend and a dividend yield of 13.39%. Golden Ocean Group's payout ratio is 99.17%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Two Sigma Advisers LP increased its stake in shares of Golden Ocean Group by 6.9% during the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company's stock valued at $36,817,000 after purchasing an additional 177,100 shares in the last quarter. Marshall Wace LLP raised its stake in Golden Ocean Group by 96.9% during the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company's stock valued at $21,491,000 after buying an additional 766,436 shares during the last quarter. Hsbc Holdings PLC raised its stake in Golden Ocean Group by 55.5% during the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company's stock valued at $16,219,000 after buying an additional 417,539 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Golden Ocean Group by 42.7% in the second quarter. Acadian Asset Management LLC now owns 991,898 shares of the shipping company's stock worth $13,683,000 after acquiring an additional 296,842 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Golden Ocean Group by 5.4% in the third quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company's stock worth $12,440,000 after acquiring an additional 47,302 shares during the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

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.