According to Zacks, “Golden Ocean Group Limited is a shipping company which engaged in the transportation of dry bulk cargoes. It operates primarily in the Capesize and Panamax market. Golden Ocean Group Limited, formerly known as Knightsbridge Shipping Limited, is based in HAMILTON, Bermuda. “
Other equities analysts also recently issued reports about the company. Jefferies Group reaffirmed a buy rating on shares of Golden Ocean Group in a report on Monday, August 1st. Clarkson Capital reissued a buy rating on shares of Golden Ocean Group in a report on Friday, June 17th. Two equities 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. The stock currently has an average rating of Hold and an average price target of $4.50.
Shares of Golden Ocean Group (NASDAQ:GOGL) opened at 3.96 on Friday. Golden Ocean Group has a 1-year low of $2.55 and a 1-year high of $13.60. The firm’s market cap is $419.54 million. The company has a 50-day moving average of $4.04 and a 200-day moving average of $3.77.
Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Wednesday, August 24th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ 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 predict that Golden Ocean Group will post ($1.31) earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Phoenix Investment Adviser LLC bought a new stake in Golden Ocean Group during the second quarter valued at approximately $105,000. Paloma Partners Management Co bought a new stake in Golden Ocean Group during the second quarter valued at approximately $159,000. Gruss & Co. Inc. boosted its stake 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 during the period. Emerald Acquisition Ltd. bought a new stake in Golden Ocean Group during the second quarter valued at approximately $714,000. Finally, Canyon Capital Advisors LLC bought a new stake in Golden Ocean Group during the second quarter valued at approximately $2,251,000. Institutional investors and hedge funds 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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