Golden Ocean Group (NASDAQ:GOGL) Rating Increased to Hold at StockNews.com

Golden Ocean Group (NASDAQ:GOGL) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Jefferies Financial Group cut Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 target price on the stock. in a research note on Wednesday.

Golden Ocean Group Stock Performance

Shares of NASDAQ GOGL opened at $14.50 on Thursday. Golden Ocean Group has a 1-year low of $6.89 and a 1-year high of $15.77. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 15.59 and a beta of 1.32. The stock’s 50-day moving average is $13.69 and its 200 day moving average is $11.40. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 0.69.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Wednesday, February 28th. The shipping company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The firm had revenue of $196.75 million during the quarter, compared to analyst estimates of $187.19 million. Golden Ocean Group had a return on equity of 8.71% and a net margin of 19.92%. On average, sell-side analysts anticipate that Golden Ocean Group will post 1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. VisionPoint Advisory Group LLC purchased a new position in shares of Golden Ocean Group during the fourth quarter valued at approximately $41,000. Blue Trust Inc. purchased a new position in Golden Ocean Group during the fourth quarter valued at $53,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Golden Ocean Group by 39.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 16,405 shares of the shipping company’s stock worth $129,000 after acquiring an additional 4,678 shares in the last quarter. Fifth Lane Capital LP purchased a new stake in shares of Golden Ocean Group in the first quarter worth $137,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Golden Ocean Group by 64.1% during the third quarter. Commonwealth Equity Services LLC now owns 17,626 shares of the shipping company’s stock valued at $139,000 after acquiring an additional 6,884 shares in the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company's dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.