Golden Ocean Group Ltd. (GOGL) Receives $5.00 Average Target Price from Brokerages
Golden Ocean Group Ltd. (NASDAQ:GOGL) has been given an average rating of “Hold” by the eight research firms that are currently covering the firm. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.00.
GOGL has been the subject of several research reports. Jefferies Group reaffirmed a “buy” rating on shares of Golden Ocean Group in a research report on Monday, August 1st. Zacks Investment Research raised Golden Ocean Group from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Monday, August 29th. Finally, Pareto Securities raised Golden Ocean Group from a “hold” rating to a “buy” rating in a research report on Monday, October 10th.
Institutional investors have recently made changes to their positions in the company. Phoenix Investment Adviser LLC bought a new position in shares of Golden Ocean Group during the second quarter worth approximately $105,000. Northern Trust Corp increased its position in shares of Golden Ocean Group by 53.6% in the third quarter. Northern Trust Corp now owns 28,889 shares of the company’s stock worth $117,000 after buying an additional 10,082 shares in the last quarter. KCG Holdings Inc. bought a new position in shares of Golden Ocean Group during the third quarter worth approximately $126,000. Paloma Partners Management Co bought a new position in shares of Golden Ocean Group during the second quarter worth approximately $159,000. Finally, Emerald Acquisition Ltd. bought a new position in shares of Golden Ocean Group during the second quarter worth approximately $714,000. 28.48% of the stock is owned by institutional investors and hedge funds.
Golden Ocean Group (NASDAQ:GOGL) opened at 4.31 on Wednesday. Golden Ocean Group has a 12 month low of $2.55 and a 12 month high of $8.85. The company’s 50-day moving average price is $3.88 and its 200 day moving average price is $3.75. The firm’s market capitalization is $456.62 million.
Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data on Wednesday, August 24th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.33) by $0.04. Golden Ocean Group had a negative return on equity of 10.86% and a negative net margin of 97.58%. Analysts predict that Golden Ocean Group will post ($1.23) EPS for the current year.
About Golden Ocean Group
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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