Shares of Golden Ocean Group Ltd (NASDAQ:GOGL) reached a new 52-week low during trading on Tuesday . The company traded as low as $6.24 and last traded at $6.51, with a volume of 8036 shares traded. The stock had previously closed at $6.76.

A number of analysts have recently commented on the stock. BTIG Research assumed coverage on shares of Golden Ocean Group in a research note on Thursday, November 15th. They set a “buy” rating and a $10.00 target price for the company. BidaskClub cut shares of Golden Ocean Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 13th. ValuEngine cut shares of Golden Ocean Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 31st. Nordea Equity Research cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research raised shares of Golden Ocean Group from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Monday, September 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $10.90.

The company has a market cap of $993.87 million, a PE ratio of -325.00 and a beta of 2.42. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.77.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings data on Friday, August 17th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. Golden Ocean Group had a net margin of 9.34% and a return on equity of 3.71%. The company had revenue of $140.89 million during the quarter, compared to analysts’ expectations of $98.87 million. On average, analysts predict that Golden Ocean Group Ltd will post 0.47 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. Man Group plc acquired a new stake in Golden Ocean Group during the 3rd quarter worth $2,961,000. Bluefin Trading LLC acquired a new stake in Golden Ocean Group during the 3rd quarter worth $2,484,000. Jane Street Group LLC boosted its stake in Golden Ocean Group by 67.4% during the 3rd quarter. Jane Street Group LLC now owns 94,980 shares of the shipping company’s stock worth $937,000 after purchasing an additional 38,232 shares during the period. Renaissance Technologies LLC boosted its stake in Golden Ocean Group by 34.9% during the 3rd quarter. Renaissance Technologies LLC now owns 2,065,282 shares of the shipping company’s stock worth $20,318,000 after purchasing an additional 534,636 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Golden Ocean Group by 465.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,535,666 shares of the shipping company’s stock worth $15,142,000 after purchasing an additional 1,263,945 shares during the period. Institutional investors own 20.80% of the company’s stock.

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About Golden Ocean Group (NASDAQ:GOGL)

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

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