Jefferies Financial Group Lowers Golden Ocean Group (NASDAQ:GOGL) to Hold

Golden Ocean Group (NASDAQ:GOGLGet Free Report) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $15.50 price target on the shipping company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 10.40% from the stock’s current price.

Separately, StockNews.com downgraded shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Monday, May 13th.

Read Our Latest Stock Analysis on GOGL

Golden Ocean Group Trading Down 0.8 %

Golden Ocean Group stock opened at $14.04 on Wednesday. The stock has a market cap of $2.80 billion, a P/E ratio of 25.07 and a beta of 1.32. Golden Ocean Group has a fifty-two week low of $6.89 and a fifty-two week high of $15.77. The firm’s fifty day moving average price is $13.65 and its 200-day moving average price is $11.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.05 and a current ratio of 1.23.

Golden Ocean Group (NASDAQ:GOGLGet Free Report) last announced its earnings results on Wednesday, February 28th. The shipping company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. The business had revenue of $196.75 million for the quarter, compared to analyst estimates of $187.19 million. Golden Ocean Group had a return on equity of 5.91% and a net margin of 12.68%. Equities research analysts forecast that Golden Ocean Group will post 1.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Golden Ocean Group

A number of large investors have recently modified their holdings of GOGL. VisionPoint Advisory Group LLC purchased a new stake in Golden Ocean Group in the fourth quarter worth approximately $41,000. Blue Trust Inc. bought a new stake in shares of Golden Ocean Group in the 4th quarter worth approximately $53,000. Fifth Lane Capital LP bought a new stake in shares of Golden Ocean Group in the 1st quarter worth approximately $137,000. Lazard Asset Management LLC purchased a new stake in shares of Golden Ocean Group in the 1st quarter valued at $149,000. Finally, Bayesian Capital Management LP bought a new position in shares of Golden Ocean Group during the 1st quarter valued at $151,000. 22.00% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Company Profile

(Get Free Report)

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.

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