Golden Ocean Group Ltd. (NASDAQ:GOGL) shot up 6% on Tuesday . The company traded as high as $3.53 and last traded at $3.51, with a volume of 84,735 shares traded. The stock had previously closed at $3.31.

A number of research firms have weighed in on GOGL. Zacks Investment Research lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. DNB Markets downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Friday, April 15th. Jefferies Group restated a “buy” rating on shares of Golden Ocean Group in a research report on Monday. Finally, Clarkson Capital restated a “buy” rating on shares of Golden Ocean Group in a research report on Friday, June 17th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Golden Ocean Group presently has an average rating of “Hold” and an average price target of $4.38.

The stock has a 50-day moving average price of $0.78 and a 200 day moving average price of $0.73. The stock’s market cap is $370.81 million.

Golden Ocean Group (NASDAQ:GOGL) last issued its earnings results on Tuesday, May 24th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $0.10. Analysts forecast that Golden Ocean Group Ltd. will post ($0.30) earnings per share for the current fiscal year.

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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