Golden Ocean Group Limited (NASDAQ:GOGL – Get Free Report) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 3,400,000 shares, a decline of 7.4% from the July 15th total of 3,670,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the short-interest ratio is presently 2.2 days. Approximately 2.9% of the company’s shares are short sold.
Golden Ocean Group Stock Up 0.1 %
Shares of Golden Ocean Group stock opened at $12.17 on Wednesday. The company has a fifty day moving average price of $12.87 and a 200 day moving average price of $13.08. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68. Golden Ocean Group has a twelve month low of $6.89 and a twelve month high of $15.77. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 13.09 and a beta of 1.16.
Golden Ocean Group (NASDAQ:GOGL – Get Free Report) last announced its quarterly earnings results on Wednesday, May 22nd. The shipping company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. Golden Ocean Group had a net margin of 19.92% and a return on equity of 8.67%. The firm had revenue of $196.70 million during the quarter. Equities research analysts forecast that Golden Ocean Group will post 1.43 earnings per share for the current fiscal year.
Institutional Trading of Golden Ocean Group
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. Jefferies Financial Group cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 price objective for the company. in a research note on Wednesday, May 22nd. StockNews.com cut shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th.
Read Our Latest Stock Report on Golden Ocean Group
About Golden Ocean Group
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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