BidaskClub upgraded shares of Golden Ocean Group (NASDAQ:GOGL) from a strong sell rating to a sell rating in a research note published on Saturday.
A number of other analysts have also recently commented on GOGL. ValuEngine cut Golden Ocean Group from a hold rating to a sell rating in a research report on Tuesday, August 7th. Seaport Global Securities reiterated a buy rating and set a $13.00 price objective on shares of Golden Ocean Group in a research report on Friday, August 17th. Zacks Investment Research upgraded Golden Ocean Group from a hold rating to a buy rating and set a $11.00 price objective for the company in a research report on Monday, September 24th. Finally, Nordea Equity Research cut Golden Ocean Group from a buy rating to a hold rating in a research report on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Golden Ocean Group presently has an average rating of Hold and an average target price of $11.13.
Golden Ocean Group stock opened at $7.71 on Friday. The firm has a market cap of $1.13 billion, a P/E ratio of -385.50 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 one year low of $7.00 and a one year high of $10.05.
Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Friday, August 17th. The shipping company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $140.89 million during the quarter, compared to analysts’ expectations of $98.87 million. Golden Ocean Group had a return on equity of 3.71% and a net margin of 9.34%. As a group, research analysts anticipate that Golden Ocean Group will post 0.47 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of GOGL. Platinum Investment Management Ltd. purchased a new stake in Golden Ocean Group in the second quarter worth about $140,400,000. Marshall Wace LLP increased its position in Golden Ocean Group by 45.2% in the second quarter. Marshall Wace LLP now owns 1,548,032 shares of the shipping company’s stock worth $13,329,000 after buying an additional 482,130 shares in the last quarter. Renaissance Technologies LLC increased its position in Golden Ocean Group by 27.2% in the second quarter. Renaissance Technologies LLC now owns 1,530,646 shares of the shipping company’s stock worth $13,291,000 after buying an additional 327,774 shares in the last quarter. Millennium Management LLC increased its position in Golden Ocean Group by 62.8% in the first quarter. Millennium Management LLC now owns 846,690 shares of the shipping company’s stock worth $6,731,000 after buying an additional 326,735 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in Golden Ocean Group by 26.5% in the second quarter. Duff & Phelps Investment Management Co. now owns 774,395 shares of the shipping company’s stock worth $6,717,000 after buying an additional 162,141 shares in the last quarter. Institutional investors and hedge funds 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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