Golden Ocean Group Ltd. (NASDAQ:GOGL) Receives $4.50 Average PT from Brokerages
Golden Ocean Group Ltd. (NASDAQ:GOGL) has been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $5.00.
Several research analysts recently issued reports on GOGL shares. Clarkson Capital reaffirmed a “buy” rating on shares of Golden Ocean Group in a research report on Friday, June 17th. 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 report on Monday, August 29th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Golden Ocean Group in a research report on Monday, August 29th.
A number of hedge funds and other institutional investors have recently bought and sold shares of GOGL. Folketrygdfondet boosted its position in Golden Ocean Group by 198.8% in the first quarter. Folketrygdfondet now owns 18,493,675 shares of the company’s stock valued at $12,853,000 after buying an additional 12,303,887 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Golden Ocean Group during the second quarter valued at $714,000. Phoenix Investment Adviser LLC acquired a new position in Golden Ocean Group during the second quarter valued at $105,000. Gruss & Co. Inc. boosted its position in Golden Ocean Group by 49.2% in the second quarter. Gruss & Co. Inc. now owns 1,932,258 shares of the company’s stock valued at $1,283,000 after buying an additional 637,607 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in Golden Ocean Group during the second quarter valued at $159,000. 29.11% of the stock is currently owned by institutional investors and hedge funds.
Golden Ocean Group (NASDAQ:GOGL) opened at 4.14 on Wednesday. Golden Ocean Group has a 52-week low of $2.55 and a 52-week high of $14.00. The company’s market cap is $438.61 million. The firm’s 50-day moving average price is $4.00 and its 200 day moving average price is $3.75.
Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Wednesday, August 24th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. Golden Ocean Group had a negative net margin of 97.58% and a negative return on equity of 10.86%. On average, equities analysts predict that Golden Ocean Group will post ($1.31) EPS for the current fiscal 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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