Golden Ocean Group (NASDAQ:GOGL) Earns Hold Rating from Pareto Securities

Golden Ocean Group (NASDAQ:GOGL)‘s stock had its “hold” rating reiterated by stock analysts at Pareto Securities in a report released on Thursday,Benzinga reports. They currently have a $12.50 price objective on the shipping company’s stock. Pareto Securities’ price target suggests a potential upside of 12.21% from the company’s current price.

GOGL has been the subject of a number of other research reports. StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Jefferies Financial Group reduced their price objective on shares of Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating for the company in a research note on Wednesday, August 28th.

Golden Ocean Group Price Performance

Shares of NASDAQ:GOGL opened at $11.14 on Thursday. Golden Ocean Group has a 52 week low of $8.42 and a 52 week high of $15.77. The company has a 50-day moving average price of $11.86 and a 200 day moving average price of $12.68. The company has a market cap of $2.23 billion, a P/E ratio of 10.41 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.66.

Golden Ocean Group (NASDAQ:GOGL) last issued its earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. The business had revenue of $197.35 million during the quarter, compared to the consensus estimate of $187.74 million. Research analysts predict that Golden Ocean Group will post 1.18 earnings per share for the current year.

Institutional Investors Weigh In On Golden Ocean Group

Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in Golden Ocean Group during the third quarter worth about $28,000. Nisa Investment Advisors LLC raised its position in shares of Golden Ocean Group by 1,720.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock worth $52,000 after purchasing an additional 3,595 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Golden Ocean Group by 2,319.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock worth $127,000 after purchasing an additional 8,791 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Golden Ocean Group in the 1st quarter valued at approximately $149,000. Finally, Bayesian Capital Management LP acquired a new stake in Golden Ocean Group during the 1st quarter valued at $151,000. 22.00% of the stock is owned by institutional investors and hedge funds.

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.