Golden Ocean Group Limited (NASDAQ:GOGL) Lowered to “Neutral” at Clarkson Capital

Golden Ocean Group Limited (NASDAQ:GOGL) was downgraded by equities researchers at Clarkson Capital from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, October 17th, The Fly reports.

GOGL has been the subject of several other research reports. DNB Markets upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Zacks Investment Research upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, September 4th. BidaskClub lowered Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Nordea Equity Research upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Finally, J P Morgan Chase & Co upgraded Golden Ocean Group Limited from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $11.00.

Golden Ocean Group Limited (NASDAQ:GOGL) traded up $0.65 on Tuesday, reaching $8.25. The company’s stock had a trading volume of 565,788 shares, compared to its average volume of 213,616. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.95. Golden Ocean Group Limited has a one year low of $3.54 and a one year high of $9.95.

Golden Ocean Group Limited (NASDAQ:GOGL) last announced its quarterly earnings results on Thursday, August 17th. The shipping company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. Golden Ocean Group Limited had a negative return on equity of 3.91% and a negative net margin of 14.69%. The firm had revenue of $99.86 million during the quarter, compared to analyst estimates of $65.36 million. equities research analysts forecast that Golden Ocean Group Limited will post -0.12 EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of the business. GLG Partners LP purchased a new stake in Golden Ocean Group Limited during the 2nd quarter worth approximately $428,000. Goldman Sachs Group Inc. increased its stake in Golden Ocean Group Limited by 19.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 82,159 shares of the shipping company’s stock worth $552,000 after buying an additional 13,235 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of Golden Ocean Group Limited in the second quarter valued at approximately $118,000. Dimensional Fund Advisors LP grew its position in shares of Golden Ocean Group Limited by 82.6% in the second quarter. Dimensional Fund Advisors LP now owns 346,531 shares of the shipping company’s stock valued at $2,328,000 after purchasing an additional 156,706 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Golden Ocean Group Limited by 3.3% in the second quarter. Northern Trust Corp now owns 29,988 shares of the shipping company’s stock valued at $202,000 after purchasing an additional 970 shares in the last quarter. Institutional investors own 9.92% of the company’s stock.

Golden Ocean Group Limited Company Profile

Golden Ocean Group Limited, formerly Knightsbridge Shipping Limited, is an international dry bulk shipping company. The Company is engaged in the transportation of dry bulk cargoes. It owns and operates a fleet of dry bulk carrier vessels, focusing on the Capesize, Panamax and Supramax markets. Its vessels transport a range of major and minor bulk commodities, including ores, coal, grains and fertilizers.

The Fly

Analyst Recommendations for Golden Ocean Group Limited (NASDAQ:GOGL)

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