Zacks Investment Research upgraded shares of Golden Ocean Group Limited (NASDAQ:GOGL) from a hold rating to a buy rating in a research report released on Monday. They currently have $10.00 target price on the shipping company’s stock.

According to Zacks, “Golden Ocean Group Limited is a shipping company which engaged in the transportation of dry bulk cargoes. It operates primarily in the Capesize and Panamax market. Golden Ocean Group Limited, formerly known as Knightsbridge Shipping Limited, is based in HAMILTON, Bermuda. “

Other equities research analysts have also issued research reports about the company. Nordea Equity Research upgraded Golden Ocean Group Limited from a hold rating to a buy rating in a research report on Friday, August 18th. J P Morgan Chase & Co upgraded Golden Ocean Group Limited from a neutral rating to an overweight rating in a research report on Tuesday, July 4th. BidaskClub upgraded Golden Ocean Group Limited from a hold rating to a buy rating in a research report on Thursday, July 6th. Seaport Global Securities began coverage on Golden Ocean Group Limited in a research report on Tuesday, June 13th. They set a buy rating and a $10.00 target price on the stock. Finally, DNB Markets upgraded Golden Ocean Group Limited from a hold rating to a buy rating in a research report on Tuesday, July 4th. Eight analysts have rated the stock with a buy rating, Golden Ocean Group Limited presently has a consensus rating of Buy and an average target price of $11.00.

Golden Ocean Group Limited (NASDAQ:GOGL) opened at 9.49 on Monday. Golden Ocean Group Limited has a 12-month low of $3.50 and a 12-month high of $9.95. The firm’s market cap is $1.26 billion. The firm has a 50-day moving average of $8.16 and a 200-day moving average of $7.22.

Golden Ocean Group Limited (NASDAQ:GOGL) last released its quarterly earnings results on Thursday, August 17th. The shipping company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. Golden Ocean Group Limited had a negative return on equity of 3.91% and a negative net margin of 14.69%. The firm had revenue of $99.86 million for the quarter, compared to analyst estimates of $65.36 million. On average, analysts expect that Golden Ocean Group Limited will post ($0.28) EPS for the current year.

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Several institutional investors have recently made changes to their positions in GOGL. Zacks Investment Management bought a new stake in shares of Golden Ocean Group Limited during the 2nd quarter valued at about $118,000. Two Sigma Securities LLC bought a new stake in shares of Golden Ocean Group Limited during the 1st quarter valued at about $123,000. Ameriprise Financial Inc. boosted its position in shares of Golden Ocean Group Limited by 10.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 1,840 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Golden Ocean Group Limited during the 1st quarter valued at about $147,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Golden Ocean Group Limited during the 1st quarter valued at about $168,000. Institutional investors own 10.51% of the company’s stock.

Golden Ocean Group Limited 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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Analyst Recommendations for Golden Ocean Group Limited (NASDAQ:GOGL)

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