Golden Ocean Group (NASDAQ:GOGL) Earns Hold Rating from Jefferies Financial Group

Golden Ocean Group (NASDAQ:GOGL)‘s stock had its “hold” rating reiterated by Jefferies Financial Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $10.00 target price on the shipping company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 6.38% from the company’s previous close.

Separately, Pareto Securities reissued a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st.

Golden Ocean Group Stock Up 1.1 %

GOGL stock opened at $9.40 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $1.88 billion, a P/E ratio of 7.77 and a beta of 1.16. Golden Ocean Group has a fifty-two week low of $8.52 and a fifty-two week high of $15.77. The business has a 50-day moving average of $9.12 and a 200-day moving average of $10.65.

Golden Ocean Group (NASDAQ:GOGL) last released its earnings results on Wednesday, November 27th. The shipping company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. On average, sell-side analysts anticipate that Golden Ocean Group will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of Golden Ocean Group

A number of hedge funds and other institutional investors have recently modified their holdings of GOGL. Jones Financial Companies Lllp grew its stake in Golden Ocean Group by 683.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 2,391 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Golden Ocean Group during the 3rd quarter worth approximately $28,000. Sterling Capital Management LLC boosted its holdings in shares of Golden Ocean Group by 830.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock valued at $35,000 after buying an additional 3,478 shares during the last quarter. Quarry LP grew its stake in shares of Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock valued at $45,000 after buying an additional 3,294 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Golden Ocean Group during the fourth quarter worth $46,000. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.