Golden Ocean Group Ltd (NASDAQ:GOGL) shares rose 7.8% on Tuesday . The company traded as high as $2.90 and last traded at $2.75, approximately 391,200 shares traded hands during mid-day trading. An increase of 14% from the average daily volume of 341,902 shares. The stock had previously closed at $2.55.
Several research firms have issued reports on GOGL. Fearnley Fonds downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Pareto Securities raised Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. ValuEngine raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, BidaskClub downgraded Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold”.
The business’s 50-day moving average price is $3.90 and its 200-day moving average price is $5.24. The firm has a market capitalization of $396.89 million, a PE ratio of 10.00 and a beta of 1.79. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 1.05.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Friday, March 6th were issued a $0.05 dividend. The ex-dividend date was Thursday, March 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.41%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its position in Golden Ocean Group by 14.3% in the 3rd quarter. California Public Employees Retirement System now owns 235,534 shares of the shipping company’s stock valued at $1,371,000 after acquiring an additional 29,413 shares during the period. SG Americas Securities LLC acquired a new position in shares of Golden Ocean Group in the third quarter valued at approximately $301,000. Virtu Financial LLC purchased a new stake in shares of Golden Ocean Group during the third quarter worth approximately $120,000. Barclays PLC raised its stake in shares of Golden Ocean Group by 127.0% during the third quarter. Barclays PLC now owns 1,533,340 shares of the shipping company’s stock worth $8,924,000 after purchasing an additional 857,837 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Golden Ocean Group by 2,751.5% during the third quarter. Millennium Management LLC now owns 795,039 shares of the shipping company’s stock worth $4,627,000 after purchasing an additional 767,158 shares during the last quarter. 18.45% of the stock is currently owned by hedge funds and other institutional investors.
Golden Ocean Group Company Profile (NASDAQ:GOGL)
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, Panamax, and Ultramax vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.
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