Golden Ocean Group Limited $GOGL Position Raised by Empowered Funds LLC

Empowered Funds LLC raised its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 1.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 980,141 shares of the shipping company’s stock after buying an additional 17,136 shares during the quarter. Empowered Funds LLC owned approximately 0.49% of Golden Ocean Group worth $7,822,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Golden Ocean Group by 330.1% in the first quarter. CWM LLC now owns 3,402 shares of the shipping company’s stock valued at $27,000 after buying an additional 2,611 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Golden Ocean Group by 405.6% during the first quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the shipping company’s stock valued at $65,000 after purchasing an additional 6,498 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Golden Ocean Group by 63.7% during the first quarter. SBI Securities Co. Ltd. now owns 8,395 shares of the shipping company’s stock valued at $67,000 after purchasing an additional 3,267 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Golden Ocean Group by 373.6% during the first quarter. GAMMA Investing LLC now owns 9,903 shares of the shipping company’s stock valued at $79,000 after purchasing an additional 7,812 shares in the last quarter. Finally, Great Waters Wealth Management bought a new stake in shares of Golden Ocean Group during the first quarter valued at about $80,000. 22.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen initiated coverage on shares of Golden Ocean Group in a research note on Thursday, May 22nd. They set a “hold” rating on the stock. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Golden Ocean Group currently has an average rating of “Hold” and a consensus target price of $10.25.

Golden Ocean Group Price Performance

Shares of NASDAQ GOGL opened at $7.98 on Thursday. The firm’s 50-day simple moving average is $8.20 and its 200 day simple moving average is $7.94. The stock has a market cap of $1.59 billion, a P/E ratio of 14.00 and a beta of 1.09. Golden Ocean Group Limited has a fifty-two week low of $6.27 and a fifty-two week high of $13.44. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.66.

Golden Ocean Group 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.