Golden Ocean Group Limited (NASDAQ:GOGL) saw a large decline in short interest in the month of October. As of October 30th, there was short interest totalling 1,020,000 shares, a decline of 17.7% from the October 15th total of 1,240,000 shares. Based on an average daily trading volume, of 273,300 shares, the short-interest ratio is currently 3.7 days. Currently, 1.1% of the company's shares are sold short.
Several large investors have recently added to or reduced their stakes in the company. JustInvest LLC purchased a new position in Golden Ocean Group in the second quarter worth $54,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Golden Ocean Group by 25.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,840 shares of the shipping company's stock valued at $151,000 after purchasing an additional 7,765 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in Golden Ocean Group by 6.3% in the 2nd quarter. DAVENPORT & Co LLC now owns 50,500 shares of the shipping company's stock worth $196,000 after purchasing an additional 3,000 shares during the period. Swiss National Bank grew its holdings in Golden Ocean Group by 27.3% in the second quarter. Swiss National Bank now owns 210,922 shares of the shipping company's stock valued at $808,000 after purchasing an additional 45,217 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Golden Ocean Group by 10.4% during the 2nd quarter. California Public Employees Retirement System now owns 204,940 shares of the shipping company's stock valued at $795,000 after buying an additional 19,226 shares in the last quarter. Institutional investors and hedge funds own 12.31% of the company's stock.
GOGL stock traded up $0.12 during trading on Friday, reaching $4.09. 402,848 shares of the company traded hands, compared to its average volume of 335,004. Golden Ocean Group has a 12 month low of $2.52 and a 12 month high of $6.04. The business has a 50 day simple moving average of $3.68 and a 200 day simple moving average of $3.71. The company has a market capitalization of $586.01 million, a price-to-earnings ratio of -4.76 and a beta of 1.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.41 and a current ratio of 0.41.
Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Wednesday, November 18th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.09. Golden Ocean Group had a positive return on equity of 0.09% and a negative net margin of 17.33%.
Several research firms have recently weighed in on GOGL. BidaskClub downgraded shares of Golden Ocean Group from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st. ValuEngine lowered Golden Ocean Group from a "hold" rating to a "sell" rating in a research note on Monday, August 3rd. Finally, DNB Markets raised shares of Golden Ocean Group from a "hold" rating to a "buy" rating in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of "Hold".
About Golden Ocean Group
Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising of 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.
See Also: What does cost of debt say about a company’s financial health?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
15 Healthcare Stocks that Analysts Love
There are more than 200 healthcare companies traded on public markets. Given the sheer number of pharmaceutical companies, medical research firms, hospital systems, and other healthcare stocks, it can be hard to identify which healthcare companies will outperform the market.
Fortunately, Wall Street's brightest minds have already done this for us. Every year, analysts issue approximately 3,000 distinct recommendations for healthcare companies. Analysts don't always get their "buy" ratings right, but it's worth taking a hard look when several analysts from different brokerages and research firms are giving "strong-buy" and "buy" ratings to the same healthcare stock.
This slide show lists the 15 healthcare companies with the highest average analyst recommendations from Wall Street's equities research analysts over the last 12 months.
View the "15 Healthcare Stocks that Analysts Love".