Nordea Equity Research cut shares of Golden Ocean Group Ltd. (NASDAQ:GOGL) from a buy rating to a hold rating in a research report report published on Tuesday morning, The Fly reports.

A number of other research firms have also recently commented on GOGL. Zacks Investment Research raised Golden Ocean Group from a hold rating to a buy rating and set a $4.00 target price on the stock in a research note on Monday, August 29th. Jefferies Group reaffirmed a buy rating on shares of Golden Ocean Group 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $4.50.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

Golden Ocean Group (NASDAQ:GOGL) opened at 4.25 on Tuesday. The stock’s market cap is $450.27 million. Golden Ocean Group has a 12-month low of $2.55 and a 12-month high of $8.85. The firm’s 50-day moving average price is $3.91 and its 200-day moving average price is $3.75.

Golden Ocean Group (NASDAQ:GOGL) last released its earnings results on Tuesday, November 22nd. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. Golden Ocean Group had a negative return on equity of 10.44% and a negative net margin of 89.19%. On average, equities analysts predict that Golden Ocean Group will post ($1.23) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KCG Holdings Inc. purchased a new position in Golden Ocean Group during the third quarter worth $126,000. Northern Trust Corp increased its position in Golden Ocean Group by 53.6% in the third quarter. Northern Trust Corp now owns 28,889 shares of the company’s stock valued at $117,000 after buying an additional 10,082 shares during the period. Emerald Acquisition Ltd. increased its position in Golden Ocean Group by 36.0% in the third quarter. Emerald Acquisition Ltd. now owns 1,382,444 shares of the company’s stock valued at $5,639,000 after buying an additional 365,649 shares during the period. Canyon Capital Advisors LLC bought a new position in Golden Ocean Group during the second quarter valued at approximately $2,251,000. Finally, Paloma Partners Management Co bought a new position in Golden Ocean Group during the second quarter valued at approximately $159,000. 27.68% of the stock is currently owned by institutional investors.

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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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