Golden Ocean Group (GOGL) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Golden Ocean Group (NASDAQ:GOGL) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

GOGL has been the subject of several other reports. JPMorgan Chase upped their price objective on Golden Ocean Group from $11.00 to $11.50 and gave the stock an overweight rating in a research report on Friday, March 23rd. Morgan Stanley set a $10.00 price objective on Golden Ocean Group and gave the stock a hold rating in a research report on Wednesday, February 21st. ValuEngine cut Golden Ocean Group from a sell rating to a strong sell rating in a research report on Monday, April 2nd. Zacks Investment Research cut Golden Ocean Group from a hold rating to a sell rating in a research report on Wednesday, April 25th. Finally, TheStreet raised Golden Ocean Group from a d+ rating to a c rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $10.25.

Shares of Golden Ocean Group traded up $0.13, hitting $8.87, on Wednesday, Marketbeat.com reports. 97,300 shares of the stock were exchanged, compared to its average volume of 194,251. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.45 and a quick ratio of 2.34. The stock has a market capitalization of $1.27 billion, a P/E ratio of -443.50 and a beta of 1.98. Golden Ocean Group has a fifty-two week low of $5.43 and a fifty-two week high of $9.95.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Tuesday, February 20th. The shipping company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The company had revenue of $151.45 million during the quarter, compared to analysts’ expectations of $104.91 million. Golden Ocean Group had a negative return on equity of 0.17% and a negative net margin of 0.51%. equities analysts expect that Golden Ocean Group will post 0.35 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of GOGL. JPMorgan Chase & Co. acquired a new position in Golden Ocean Group during the third quarter valued at approximately $128,000. California Public Employees Retirement System boosted its position in Golden Ocean Group by 41.1% during the third quarter. California Public Employees Retirement System now owns 118,144 shares of the shipping company’s stock valued at $926,000 after purchasing an additional 34,424 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Golden Ocean Group during the fourth quarter valued at approximately $164,000. WealthTrust Axiom LLC boosted its position in Golden Ocean Group by 24.0% during the fourth quarter. WealthTrust Axiom LLC now owns 31,671 shares of the shipping company’s stock valued at $258,000 after purchasing an additional 6,140 shares during the last quarter. Finally, Swiss National Bank boosted its position in Golden Ocean Group by 21.7% during the fourth quarter. Swiss National Bank now owns 140,260 shares of the shipping company’s stock valued at $1,140,000 after purchasing an additional 25,000 shares during the last quarter. 26.95% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, engages in the transportation of bulk commodities worldwide. It owns and operates a fleet of dry bulk vessels, including Newcastlemax, Capesize, Panamax, and Ultramax vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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