Golden Ocean Group Limited (NASDAQ:GOGL) has a beta value of 1.43 and has seen 0.59 million shares traded in the recent trading session. The company, currently valued at $2.46B, closed the recent trade at $12.30 per share which meant it lost -$0.51 on the day or -3.98% during that session. The GOGL stock price is -13.41% off its 52-week high price of $13.95 and 43.98% above the 52-week low of $6.89. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.3 million shares traded. The 3-month trading volume is 1.85 million shares.
Golden Ocean Group Limited (NASDAQ:GOGL) trade information
Sporting -3.98% in the red today, the stock has traded in the red over the last five days, when the GOGL stock price touched $12.30 or saw a rise of 6.18%. Year-to-date, Golden Ocean Group Limited shares have moved 26.03%, while the 5-day performance has seen it change -6.53%. Over the past 30 days, the shares of Golden Ocean Group Limited (NASDAQ:GOGL) have changed 12.74%. Short interest in the company has seen 5.28 million shares shorted with days to cover at 3.18.
Golden Ocean Group Limited (GOGL) estimates and forecasts
Figures show that Golden Ocean Group Limited shares have outperformed across the wider relevant industry. The company’s shares have gained 60.58% over the past 6 months, with this year growth rate of 157.63%, compared to 5.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 650.00% and 129.40% for the next quarter. Revenue growth from the last financial year stood is estimated to be 35.40%.
3 analysts offering their estimates for the company have set an average revenue estimate of $184.27 million for the current quarter. 3 have an estimated revenue figure of $192.13 million for the next quarter concluding in Jun 2024. Year-ago sales stood $132.29 million and $213.38 million respectively for this quarter and the next, and analysts expect sales will grow by 39.30% for the current quarter and -10.00% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -0.88% over the past 5 years. Earnings growth for 2024 is a modest 158.16% while over the next 5 years, the company’s earnings are expected to decrease by -0.20%.
GOGL Dividends
Golden Ocean Group Limited is expected to release its next earnings report on May 31 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.60 at a share yield of 4.88%. The company’s dividend yield has gone up over the past 12 months.
Golden Ocean Group Limited (NASDAQ:GOGL)’s Major holders
Insiders own 39.22% of the company shares, while shares held by institutions stand at 30.46% with a share float percentage of 50.12%. Investors are also buoyed by the number of investors in a company, with Golden Ocean Group Limited having a total of 238 institutions that hold shares in the company. The top two institutional holders are Folketrygdfondet with over 9.4 million shares worth more than $116.28 million. As of Dec 30, 2023, Folketrygdfondet held 4.69% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 6.98 million shares as of Dec 30, 2023. The firm’s total holdings are worth over $86.33 million and represent 3.48% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Russell 2000 ETF and Fidelity Small Cap Index Fund. As of Jan 30, 2024, the former fund manager holds about 1.52% shares in the company for having 3.04 million shares of worth $37.58 million while later fund manager owns 1.22 million shares of worth $15.14 million as of Dec 30, 2023, which makes it owner of about 0.61% of company’s outstanding stock.
