BidaskClub Downgrades Golden Ocean Group (GOGL) to Sell

Golden Ocean Group (NASDAQ:GOGL) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other research firms also recently commented on GOGL. Zacks Investment Research raised shares of Golden Ocean Group from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Monday, September 24th. ValuEngine downgraded shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Seaport Global Securities reissued a “buy” rating and set a $13.00 price objective on shares of Golden Ocean Group in a report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.13.

GOGL stock opened at $9.24 on Friday. The stock has a market cap of $1.42 billion, a P/E ratio of -462.00 and a beta of 2.16. Golden Ocean Group has a 52 week low of $7.00 and a 52 week high of $10.05. 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 released its quarterly earnings data on Friday, August 17th. The shipping company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $140.89 million for the quarter, compared to the consensus estimate of $98.87 million. Golden Ocean Group had a net margin of 9.34% and a return on equity of 3.71%. On average, equities analysts predict that Golden Ocean Group will post 0.49 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new position in Golden Ocean Group during the second quarter worth about $184,000. Barclays PLC raised its position in Golden Ocean Group by 50.6% during the first quarter. Barclays PLC now owns 59,910 shares of the shipping company’s stock worth $477,000 after acquiring an additional 20,135 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Golden Ocean Group during the first quarter worth about $511,000. A.R.T. Advisors LLC raised its position in Golden Ocean Group by 54.1% during the first quarter. A.R.T. Advisors LLC now owns 65,876 shares of the shipping company’s stock worth $523,000 after acquiring an additional 23,140 shares during the last quarter. Finally, Navellier & Associates Inc raised its position in Golden Ocean Group by 18.3% during the first quarter. Navellier & Associates Inc now owns 80,963 shares of the shipping company’s stock worth $644,000 after acquiring an additional 12,549 shares during the last quarter. 22.96% of the stock is currently owned by hedge funds and other institutional investors.

About Golden Ocean Group

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.

Read More: Stop Order Uses For Individual Investors

Receive News & Ratings for Golden Ocean Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golden Ocean Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply