Pareto Securities upgraded shares of Golden Ocean Group Ltd. (NASDAQ:GOGL) from a hold rating to a buy rating in a research report released on Monday, The Fly reports.
GOGL has been the topic of several other research reports. Zacks Investment Research lowered shares of Golden Ocean Group from a buy rating to a hold rating in a research note on Friday, October 7th. Jefferies Group reiterated a buy rating and issued a $5.00 price objective on shares of Golden Ocean Group in a research note on Tuesday, September 6th. Finally, Clarkson Capital reiterated a buy rating on shares of Golden Ocean Group in a research note on Friday, June 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Golden Ocean Group currently has a consensus rating of Hold and a consensus target price of $4.50.
Golden Ocean Group (NASDAQ:GOGL) opened at 3.94 on Monday. The firm’s market cap is $417.42 million. The firm has a 50-day moving average of $4.05 and a 200-day moving average of $3.77. Golden Ocean Group has a one year low of $2.55 and a one year high of $13.60.
Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Wednesday, August 24th. The company reported ($0.37) 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%. Analysts anticipate that Golden Ocean Group will post ($1.31) EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in GOGL. Canyon Capital Advisors LLC acquired a new position in shares of Golden Ocean Group during the second quarter valued at approximately $2,251,000. Paloma Partners Management Co acquired a new position in shares of Golden Ocean Group during the second quarter valued at approximately $159,000. Gruss & Co. Inc. raised its position in shares of 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 during the period. Phoenix Investment Adviser LLC acquired a new position in shares of Golden Ocean Group during the second quarter valued at approximately $105,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Golden Ocean Group during the second quarter valued at approximately $714,000. Institutional investors own 29.11% of the company’s stock.
Golden Ocean Group 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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