Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report)'s share price was down 2.5% on Friday . The company traded as low as $7.63 and last traded at $7.68. Approximately 560,958 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,181,419 shares. The stock had previously closed at $7.88.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on GOGL shares. Pareto Securities reiterated a "hold" rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research note on Thursday, November 21st. Jefferies Financial Group restated a "hold" rating and set a $10.00 price target on shares of Golden Ocean Group in a research report on Wednesday, February 26th.
Get Our Latest Stock Analysis on GOGL
Golden Ocean Group Price Performance
The business's 50-day moving average price is $9.05 and its 200 day moving average price is $10.28. The stock has a market capitalization of $1.53 billion, a PE ratio of 6.33 and a beta of 1.14. 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 Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.83%. The ex-dividend date of this dividend is Tuesday, March 11th. Golden Ocean Group's dividend payout ratio is currently 53.57%.
Institutional Trading of Golden Ocean Group
Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its stake in Golden Ocean Group by 683.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after purchasing an additional 2,391 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Golden Ocean Group in the third quarter worth $28,000. Sterling Capital Management LLC lifted its stake in Golden Ocean Group by 830.1% in 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 raised its stake in shares of Golden Ocean Group by 195.3% during the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock valued at $45,000 after acquiring an additional 3,294 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Golden Ocean Group during the fourth quarter worth about $46,000. 22.00% of the stock is owned by institutional investors.
Golden Ocean Group Company Profile
(
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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.
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