Golden Ocean Group (NASDAQ:GOGL) had its price target upped by equities research analysts at BTIG Research from $8.00 to $12.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the shipping company’s stock. BTIG Research’s price target suggests a potential upside of 28.34% from the stock’s current price.

GOGL opened at $9.35 on Tuesday. The company has a market capitalization of $1.34 billion, a P/E ratio of -11.00 and a beta of 1.83. The firm’s fifty day moving average price is $7.51 and its two-hundred day moving average price is $5.50. Golden Ocean Group has a fifty-two week low of $2.69 and a fifty-two week high of $9.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.10 and a quick ratio of 1.10.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data on Thursday, February 18th. The shipping company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). Golden Ocean Group had a negative net margin of 17.84% and a positive return on equity of 0.26%. The company had revenue of $168.71 million for the quarter.

A number of large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new stake in shares of Golden Ocean Group during the 4th quarter worth approximately $16,392,000. Barclays PLC raised its stake in shares of Golden Ocean Group by 233.2% during the 4th quarter. Barclays PLC now owns 974,093 shares of the shipping company’s stock worth $4,510,000 after purchasing an additional 681,746 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Golden Ocean Group during the 4th quarter worth approximately $1,358,000. Credit Suisse AG raised its stake in shares of Golden Ocean Group by 164.8% during the 4th quarter. Credit Suisse AG now owns 339,979 shares of the shipping company’s stock worth $1,574,000 after purchasing an additional 211,589 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors bought a new stake in shares of Golden Ocean Group during the 4th quarter worth approximately $318,000. 12.35% of the stock is owned by hedge funds and other institutional investors.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide. It owns and operates dry bulk vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.

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