Golden Ocean Group Ltd. (NASDAQ:GOGL) has earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $4.50.
Several brokerages have issued reports on GOGL. Jefferies Group reissued a “buy” rating and issued a $5.00 price target on shares of Golden Ocean Group in a research note on Tuesday, September 6th. Zacks Investment Research raised Golden Ocean Group from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Monday, August 29th. Finally, Clarkson Capital reissued a “buy” rating on shares of Golden Ocean Group in a research note on Friday, June 17th.
Golden Ocean Group (NASDAQ:GOGL) traded up 2.66% during midday trading on Wednesday, hitting $4.25. The stock had a trading volume of 74,412 shares. The stock’s market capitalization is $450.27 million. The stock’s 50-day moving average is $3.94 and its 200-day moving average is $3.74. Golden Ocean Group has a 1-year low of $2.55 and a 1-year high of $14.30.
Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Wednesday, August 24th. The company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.04. Golden Ocean Group had a negative return on equity of 10.86% and a negative net margin of 97.58%. On average, equities research analysts anticipate that Golden Ocean Group will post ($1.31) EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Canyon Capital Advisors LLC purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $2,251,000. Paloma Partners Management Co purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $159,000. Gruss & Co. Inc. increased 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 in the last quarter. Phoenix Investment Adviser LLC purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $105,000. Finally, Emerald Acquisition Ltd. purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $714,000. Hedge funds and other institutional investors own 29.11% of the company’s stock.