Golden Ocean Group Ltd. (NASDAQ:GOGL) has earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $4.50.
Several brokerages have issued reports on GOGL. Jefferies Group reissued a “buy” rating and issued a $5.00 price target on shares of Golden Ocean Group in a research note on Tuesday, September 6th. Zacks Investment Research raised Golden Ocean Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Monday, August 29th. Finally, Clarkson Capital reissued a “buy” rating on shares of Golden Ocean Group in a research note on Friday, June 17th.
Golden Ocean Group (NASDAQ:GOGL) traded up 2.66% during midday trading on Wednesday, hitting $4.25. The stock had a trading volume of 74,412 shares. The stock’s market capitalization is $450.27 million. The stock’s 50-day moving average is $3.94 and its 200-day moving average is $3.74. Golden Ocean Group has a 1-year low of $2.55 and a 1-year high of $14.30.
Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Wednesday, August 24th. The company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.04. Golden Ocean Group had a negative return on equity of 10.86% and a negative net margin of 97.58%. On average, equities research analysts anticipate that Golden Ocean Group will post ($1.31) EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Canyon Capital Advisors LLC purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $2,251,000. Paloma Partners Management Co purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $159,000. Gruss & Co. Inc. increased its stake in Golden Ocean Group by 49.2% in the second quarter. Gruss & Co. Inc. now owns 1,932,258 shares of the company’s stock valued at $1,283,000 after buying an additional 637,607 shares in the last quarter. Phoenix Investment Adviser LLC purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $105,000. Finally, Emerald Acquisition Ltd. purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $714,000. Hedge funds and other institutional investors own 29.11% of the company’s stock.
Golden Ocean Group Company Profile
Golden Ocean Group Limited, formerly Knightsbridge Shipping Limited, is an international dry bulk shipping company. The Company is engaged in the transportation of dry bulk cargoes. It owns and operates a fleet of dry bulk carrier vessels, focusing on the Capesize, Panamax and Supramax markets. Its vessels transport a range of major and minor bulk commodities, including ores, coal, grains and fertilizers.
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