Golden Ocean Group Limited (NASDAQ:GOGL) Short Interest Update


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Golden Ocean Group Limited (NASDAQ:GOGL) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,930,000 shares, a decline of 20.9% from the March 31st total of 2,440,000 shares. Based on an average trading volume of 842,500 shares, the short-interest ratio is currently 2.3 days. Approximately 1.6% of the company’s stock are sold short.

GOGL traded down $0.20 during mid-day trading on Tuesday, reaching $9.15. 1,576,623 shares of the company traded hands, compared to its average volume of 813,486. The stock has a market capitalization of $1.31 billion, a P/E ratio of -10.76 and a beta of 1.83. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.83. The company’s fifty day moving average price is $7.56 and its 200-day moving average price is $5.53. Golden Ocean Group has a 52-week low of $2.69 and a 52-week high of $9.49.

Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Thursday, February 18th. The shipping company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $168.71 million for the quarter. Golden Ocean Group had a negative net margin of 17.84% and a positive return on equity of 0.26%.

A number of institutional investors and hedge funds have recently made changes to their positions in GOGL. Russell Investments Group Ltd. purchased a new stake in Golden Ocean Group during the 4th quarter valued at $16,392,000. Barclays PLC increased its stake in shares of Golden Ocean Group by 233.2% in the 4th quarter. Barclays PLC now owns 974,093 shares of the shipping company’s stock worth $4,510,000 after purchasing an additional 681,746 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Golden Ocean Group in the 4th quarter worth $1,358,000. Credit Suisse AG increased its stake in shares of Golden Ocean Group by 164.8% in the 4th quarter. Credit Suisse AG now owns 339,979 shares of the shipping company’s stock worth $1,574,000 after purchasing an additional 211,589 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors purchased a new stake in shares of Golden Ocean Group in the 4th quarter worth $318,000. Institutional investors and hedge funds own 12.35% of the company’s stock.

Separately, BTIG Research boosted their price objective on shares of Golden Ocean Group from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday.

Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide. It owns and operates dry bulk vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.

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