Jefferies Financial Group Reiterates Hold Rating for Golden Ocean Group (NASDAQ:GOGL)

Golden Ocean Group (NASDAQ:GOGL)‘s stock had its “hold” rating restated by Jefferies Financial Group in a research report issued on Wednesday,Benzinga reports. They presently have a $10.00 price objective 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 target on shares of Golden Ocean Group in a research note on Thursday, November 21st.

Golden Ocean Group Stock Performance

Golden Ocean Group stock opened at $9.40 on Wednesday. The company has a market cap of $1.88 billion, a PE ratio of 7.77 and a beta of 1.16. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group has a 1 year low of $8.52 and a 1 year high of $15.77. The company’s 50-day moving average is $9.12 and its two-hundred day moving average is $10.65.

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

Institutional Inflows and Outflows

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