Golden Ocean Group (GOGL) Price Target Raised to $11.50

Golden Ocean Group (NASDAQ:GOGL) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $11.00 to $11.50 in a research note issued on Friday. The firm presently has an “overweight” rating on the shipping company’s stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 40.76% from the company’s current price.

GOGL has been the subject of a number of other research reports. BidaskClub cut Golden Ocean Group from a “hold” rating to a “sell” rating in a research report on Thursday, March 15th. Clarkson Capital raised Golden Ocean Group from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. TheStreet raised Golden Ocean Group from a “d+” rating to a “c” rating in a research report on Tuesday, February 20th. Finally, Morgan Stanley set a $10.00 price target on Golden Ocean Group and gave the stock a “hold” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Golden Ocean Group presently has an average rating of “Buy” and an average price target of $10.38.

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Shares of Golden Ocean Group (GOGL) opened at $8.17 on Friday. Golden Ocean Group has a 52-week low of $5.43 and a 52-week high of $9.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.68 and a current ratio of 2.45. The company has a market capitalization of $1,220.34, a PE ratio of -102.11 and a beta of 2.00.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.06. Golden Ocean Group had a negative return on equity of 0.17% and a negative net margin of 0.51%. The company had revenue of $151.45 million during the quarter, compared to analysts’ expectations of $104.91 million. equities analysts forecast that Golden Ocean Group will post 0.6 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of Golden Ocean Group by 12.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,067,082 shares of the shipping company’s stock valued at $8,697,000 after buying an additional 121,810 shares during the period. Deutsche Bank AG lifted its holdings in shares of Golden Ocean Group by 32.3% in the 4th quarter. Deutsche Bank AG now owns 635,270 shares of the shipping company’s stock valued at $5,176,000 after buying an additional 154,923 shares during the period. Millennium Management LLC lifted its holdings in shares of Golden Ocean Group by 317.0% in the 4th quarter. Millennium Management LLC now owns 519,955 shares of the shipping company’s stock valued at $4,238,000 after buying an additional 395,265 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Golden Ocean Group by 82.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 346,531 shares of the shipping company’s stock valued at $2,328,000 after buying an additional 156,706 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Golden Ocean Group by 750.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 304,215 shares of the shipping company’s stock valued at $2,471,000 after buying an additional 268,460 shares during the period. 26.92% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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