BidaskClub Lowers Golden Ocean Group (NASDAQ:GOGL) to Sell

BidaskClub cut shares of Golden Ocean Group (NASDAQ:GOGL) from a hold rating to a sell rating in a research note released on Friday morning, BidAskClub reports.

Separately, Danske upgraded Golden Ocean Group from a hold rating to a buy rating in a report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Golden Ocean Group presently has a consensus rating of Hold and a consensus target price of $7.25.

Shares of Golden Ocean Group stock traded up $0.11 during trading on Friday, reaching $5.42. The stock had a trading volume of 326,051 shares, compared to its average volume of 225,624. The company has a market capitalization of $792.27 million, a price-to-earnings ratio of 24.00 and a beta of 2.04. The stock has a fifty day moving average price of $5.71 and a two-hundred day moving average price of $5.78. Golden Ocean Group has a 52 week low of $4.33 and a 52 week high of $7.16. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.81.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Thursday, November 21st. The shipping company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $219.34 million for the quarter. Golden Ocean Group had a return on equity of 2.20% and a net margin of 3.10%.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.07%. The ex-dividend date of this dividend is Monday, December 2nd.

Several large investors have recently added to or reduced their stakes in GOGL. Sigma Planning Corp increased its position in shares of Golden Ocean Group by 12.9% in the second quarter. Sigma Planning Corp now owns 15,637 shares of the shipping company’s stock valued at $91,000 after acquiring an additional 1,788 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of Golden Ocean Group in the second quarter valued at about $95,000. Virtu Financial LLC acquired a new stake in shares of Golden Ocean Group in the third quarter valued at about $120,000. State of Tennessee Treasury Department acquired a new stake in shares of Golden Ocean Group in the third quarter valued at about $145,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Golden Ocean Group in the third quarter valued at about $301,000. 18.45% of the stock is currently owned by institutional investors and hedge funds.

Golden Ocean Group Company Profile

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.

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