Top 5 Stocks Under $15

In this article, we discuss the top 5 stocks to buy for under $15. The main article also provides a detailed analysis of the global economy in 2022. If you want to read that, you can go directly to Top 10 Stocks Under $15.

5. Golden Ocean Group Limited (NASDAQ:GOGL)

Stock Price as of August 29: $10.25

Golden Ocean Group Limited (NASDAQ:GOGL) is a Norwegian dry bulk shipping company. As of the second quarter of 2022, 14 hedge funds were bullish on the company, with a combined stake value of $62.3 million. Renaissance Technologies held the most prominent position in Golden Ocean Group Limited (NASDAQ:GOGL) at the end of the quarter with shares worth $30.86 million. The second largest stake was held by Citadel Investment Group, which increased its stake in the company by a whopping 4267% to $6.6 million.

The most attractive aspect of Golden Ocean Group Limited (NASDAQ:GOGL) is its high dividend yield, which is 19.4% as of August 29. On August 25, the company declared a 10-cent increase in its dividend to 60 cents. The quarterly dividend is payable by September 14 to the shareholders of record on September 7.

On August 25, Golden Ocean Group Limited (NASDAQ:GOGL) reported a net income of $163.7 million compared to $125 million in the previous quarter. The adjusted EBITDA for the quarter was $191.6 million vs $149.4 million in the first quarter of 2022. Additionally, the revenues showed a 14.9% YoY growth to $316.7 million. At the end of the quarter, Golden Ocean Group Limited (NASDAQ:GOGL) also announced the construction of three Kamsarmax vessels, the sale of two Ultramax vessels, and completed the $275 million refinancing of 14 Capesize vessels.

On July 20, Jefferies analyst Omar Nokta initiated coverage of Golden Ocean Group Limited (NASDAQ:GOGL) with a Buy rating and a $14 price target.