Golden Ocean Group Limited (NASDAQ: GOGL) stock jumped 2.52% on Friday to $7.72 against a previous-day closing price of $7.53. With 1.39 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.37 million shares. During the session, the Marine Shipping company that operates in wider Industrials sector, reached to the highest price of $7.76 whereas the lowest price it dropped to was $7.67. The 52-week range on GOGL shows that it touched its highest point at $10.58 and its lowest point at $6.89 during that stretch. It currently has a 1-year price target of $10.19. With its current market cap of 1.54 billion, GOGL has annualized dividend of $0.42 while the current yield stands at 5.50%. Beta for the stock currently stands at 1.18.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GOGL was up-trending over the past week, with a rise of 4.47%, but this was down by -3.14% over a month. Three-month performance surged to 5.90% while six-month performance fell -6.54%. The stock lost -8.75% in the past year, while it has lost -11.16% so far this year. A look at the trailing 12-month EPS for GOGL yields 0.99 with Next year EPS estimates of 0.92. For the next quarter, that number is 0.07. This implies an EPS growth rate of -79.24% for this year and 128.73% for next year.
Float and Shares Shorts:
At present, 200.49 million GOGL shares are outstanding with a float of 119.05 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.73 million, which was 1.87% higher than short shares on Sep 28, 2023. In addition to Mr. Lars-Christian Svensen as the firm’s Interim CEO & Chief Commercial Officer of Golden Ocean Management AS, Mr. Peder Carl Gram Simonsen serves as its Chief Financial Officer of Golden Ocean Management AS.
Other institutions hold 8.73% of GOGL, in contrast to 13.76% held by mutual funds. As the largest shareholder in GOGL with 4.46% of the stake, Folketrygdfondet holds 8,902,318 shares worth 8,902,318. A second-largest stockholder of GOGL, BlackRock Fund Advisors, holds 5,481,724 shares, controlling over 2.75% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in GOGL, holding 1,920,605 shares or 0.96% stake. With a 1.43% stake in GOGL, the iShares Russell 2000 ETF is the largest stakeholder. A total of 2,861,404 shares are owned by the mutual fund manager. The DNB Norge, which owns about 0.64% of GOGL stock, is the second-largest Mutual Fund holder. It holds 1,284,625 shares valued at 9.31 million. Fidelity Small Cap Index Fund holds 0.57% of the stake in GOGL, owning 1,139,266 shares worth 8.26 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GOGL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GOGL analysts setting a high price target of $13.26 and a low target of $7.10, the average target price over the next 12 months is $10.19. Based on these targets, GOGL could surge 71.76% to reach the target high and fall by -8.03% to reach the target low. Reaching the average price target will result in a growth of 31.99% from current levels.
Dividends & Yield:
In terms of dividends, GOGL has a current ratio of $0.75, which is $0.75 over the trailing 12-months, while a dividend of $0.98 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and GOGL currently yields $9.72. In the past year, GOGL’s dividend yield has been $9.72, but when looking at the stock over the past five years, its yield has been $11.90. Accordingly, GOGL has a current buyback yield of $0.7. This was $0.7 for the TTM, and it was $– for the past five years.
Summary of Insider Activity:
Insiders traded GOGL stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 1,920,328 while 0 shares were sold.