ValuEngine cut shares of Golden Ocean Group (NASDAQ:GOGL) from a sell rating to a strong sell rating in a report released on Wednesday morning.
A number of other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of Golden Ocean Group from a hold rating to a sell rating in a report on Saturday, October 6th. Seaport Global Securities reiterated a buy rating and set a $13.00 price target on shares of Golden Ocean Group in a report on Friday, August 17th. Zacks Investment Research upgraded shares of Golden Ocean Group from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Monday, September 24th. Finally, Nordea Equity Research lowered shares of Golden Ocean Group from a buy rating to a hold rating in a report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $11.13.
Shares of GOGL opened at $7.85 on Wednesday. The company has a market capitalization of $1.13 billion, a PE ratio of 20.66 and a beta of 2.42. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.33 and a quick ratio of 1.33. Golden Ocean Group has a fifty-two week low of $7.00 and a fifty-two week high of $10.05.
Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings data on Friday, August 17th. The shipping company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. The firm had revenue of $140.89 million during the quarter, compared to analyst estimates of $98.87 million. Golden Ocean Group had a net margin of 9.34% and a return on equity of 3.71%. Equities research analysts expect that Golden Ocean Group will post 0.47 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. Folketrygdfondet raised its holdings in Golden Ocean Group by 0.8% during the 2nd quarter. Folketrygdfondet now owns 7,405,969 shares of the shipping company’s stock valued at $64,358,000 after buying an additional 57,685 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in Golden Ocean Group during the 2nd quarter valued at $140,400,000. Marshall Wace LLP raised its holdings in Golden Ocean Group by 45.2% during the 2nd quarter. Marshall Wace LLP now owns 1,548,032 shares of the shipping company’s stock valued at $13,329,000 after buying an additional 482,130 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Golden Ocean Group by 27.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,530,646 shares of the shipping company’s stock valued at $13,291,000 after buying an additional 327,774 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Golden Ocean Group by 62.8% during the 1st quarter. Millennium Management LLC now owns 846,690 shares of the shipping company’s stock valued at $6,731,000 after buying an additional 326,735 shares during the last quarter. Institutional investors own 22.95% of the company’s stock.
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.
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