Golden Ocean Group Ltd. (NASDAQ:GOGL) was upgraded by stock analysts at Pareto Securities from a “hold” rating to a “buy” rating in a research report issued on Monday, The Fly reports.
A number of other research firms have also recently weighed in on GOGL. Zacks Investment Research cut Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Friday, October 7th. Jefferies Group restated a “buy” rating and issued a $5.00 price target on shares of Golden Ocean Group in a report on Tuesday, September 6th. Finally, Clarkson Capital restated a “buy” rating on shares of Golden Ocean Group in a report on Friday, June 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.50.
Shares of Golden Ocean Group (NASDAQ:GOGL) opened at 3.96 on Monday. The firm’s market capitalization is $419.54 million. The stock has a 50 day moving average price of $4.04 and a 200-day moving average price of $3.77. Golden Ocean Group has a 52 week low of $2.55 and a 52 week high of $13.60.
Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings results on Wednesday, August 24th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities analysts anticipate that Golden Ocean Group will post ($1.31) earnings per share for the current year.
A number of large investors have recently made changes to their positions in GOGL. Phoenix Investment Adviser LLC bought a new stake in shares of Golden Ocean Group during the second quarter worth approximately $105,000. Paloma Partners Management Co bought a new stake in shares of Golden Ocean Group during the second quarter worth approximately $159,000. Gruss & Co. Inc. boosted its stake in shares of Golden Ocean Group by 49.2% in the second quarter. Gruss & Co. Inc. now owns 1,932,258 shares of the company’s stock worth $1,283,000 after buying an additional 637,607 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Golden Ocean Group during the second quarter worth approximately $714,000. Finally, Canyon Capital Advisors LLC bought a new stake in shares of Golden Ocean Group during the second quarter worth approximately $2,251,000. 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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