5 Best Stocks Under $10 To Buy Right Now

4. Golden Ocean Group Limited (NASDAQ:GOGL)

Share Price as of October 21: $8.61

Number of Hedge Fund Holders: 14

Golden Ocean Group Limited (NASDAQ:GOGL) is a leading international dry bulk shipping company. The company owns and operates a modern fleet of dry bulk vessels and a diversified global customer base. The company’s vessels transport a wide range of dry bulk commodities including iron ore, coal, grain, and fertilizers. The company has a strong track record of financial and operational performance. Golden Ocean Group Limited (NASDAQ:GOGL) is well-positioned to capitalize on the continued growth in global demand for dry bulk commodities.

Golden Ocean Group Limited (NASDAQ:GOGL) is cash-rich, profitable, and efficient at making profits for shareholders. The company has a trailing twelve-month operating margin of 47%, an ROE of 36.82%, and free cash flows of $643 million. The company is committed to utilizing its cash efficiently and on October 4, Golden Ocean Group Limited (NASDAQ:GOGL) announced a share repurchase program of up to $100 million of the company’s common stock for a period of up to 12 months. As of September 26, Jefferies analyst Omar Nokta has a Hold rating and a $10 price target on Golden Ocean Group Limited (NASDAQ:GOGL).

At the close of Q2 2022, 14 hedge funds were long Golden Ocean Group Limited (NASDAQ:GOGL) and held stakes worth $62.3 million in the company. Of those, Renaissance Technologies was the most prominent shareholder and held stakes worth $30.8 million in the company.