Golden Ocean Group Target of Unusually High Options Trading (NASDAQ:GOGL)

Golden Ocean Group Limited (NASDAQ:GOGL) saw some unusual options trading on Wednesday. Traders purchased 9,014 call options on the stock. This is an increase of approximately 2,397% compared to the average volume of 361 call options.

Hedge Funds Weigh In On Golden Ocean Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in shares of Golden Ocean Group by 683.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock worth $25,000 after acquiring an additional 2,391 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Golden Ocean Group in the third quarter worth $28,000. Sterling Capital Management LLC lifted its holdings in shares of Golden Ocean Group by 830.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock valued at $35,000 after buying an additional 3,478 shares during the last quarter. Quarry LP grew its stake in shares of Golden Ocean Group by 195.3% in the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock valued at $45,000 after buying an additional 3,294 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Golden Ocean Group in the 4th quarter valued at approximately $46,000. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOGL has been the topic of several research reports. Pareto Securities reaffirmed a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.00 price target on shares of Golden Ocean Group in a report on Wednesday.

Golden Ocean Group Trading Up 4.5 %

NASDAQ GOGL opened at $9.82 on Thursday. Golden Ocean Group has a twelve month low of $8.52 and a twelve month high of $15.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 8.12 and a beta of 1.16. The firm’s 50 day moving average price is $9.14 and its two-hundred day moving average price is $10.65.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Wednesday, February 26th. The shipping company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.14). Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. Equities analysts anticipate that Golden Ocean Group will post 1.14 EPS for the current year.

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.