Golden Ocean Group Ltd. (GOGL) Upgraded to “Buy” at Pareto Securities
GOGL has been the subject of several other research reports. Zacks Investment Research lowered shares of Golden Ocean Group from a buy rating to a hold rating in a research note on Friday. Jefferies Group reaffirmed a buy rating and issued a $5.00 price objective on shares of Golden Ocean Group in a research note on Tuesday, September 6th. Finally, Clarkson Capital reaffirmed a buy rating on shares of Golden Ocean Group in a research note on Friday, June 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Golden Ocean Group currently has a consensus rating of Hold and a consensus price target of $4.50.
Golden Ocean Group (NASDAQ:GOGL) traded down 3.33% during trading on Monday, reaching $4.06. The company had a trading volume of 18,617 shares. The stock’s market cap is $430.14 million. The firm has a 50-day moving average price of $4.02 and a 200 day moving average price of $3.77. Golden Ocean Group has a 12-month low of $2.55 and a 12-month high of $13.75.
Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Wednesday, August 24th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by $0.04. Golden Ocean Group had a negative net margin of 97.58% and a negative return on equity of 10.86%. Equities research analysts predict that Golden Ocean Group will post ($1.31) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Phoenix Investment Adviser LLC purchased a new position in Golden Ocean Group during the second quarter worth $105,000. Paloma Partners Management Co purchased a new position in Golden Ocean Group during the second quarter worth $159,000. Gruss & Co. Inc. raised its position in Golden Ocean Group by 49.2% in the second quarter. Gruss & Co. Inc. now owns 1,932,258 shares of the company’s stock worth $1,283,000 after buying an additional 637,607 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Golden Ocean Group during the second quarter worth $714,000. Finally, Canyon Capital Advisors LLC purchased a new position in Golden Ocean Group during the second quarter worth $2,251,000. 29.11% of the stock is owned by hedge funds and other institutional investors.
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.
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