Golden Ocean Group (NASDAQ:GOGL) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

GOGL has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price target on shares of Golden Ocean Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Friday, March 23rd. Morgan Stanley set a $10.00 price target on shares of Golden Ocean Group and gave the stock a “hold” rating in a report on Wednesday, February 21st. ValuEngine cut shares of Golden Ocean Group from a “sell” rating to a “strong sell” rating in a research report on Monday, April 2nd. Zacks Investment Research cut shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 25th. Finally, TheStreet raised shares of Golden Ocean Group from a “d+” rating to a “c” rating in a research report on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.13.

Shares of Golden Ocean Group opened at $8.66 on Wednesday, according to Marketbeat.com. The company has a market cap of $1.18 billion, a PE ratio of -433.00 and a beta of 1.98. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.45 and a quick ratio of 2.34. Golden Ocean Group has a 1 year low of $5.43 and a 1 year high of $9.95.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Wednesday, May 30th. The shipping company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.09. The business had revenue of $149.94 million during the quarter, compared to the consensus estimate of $92.61 million. Golden Ocean Group had a negative net margin of 0.51% and a negative return on equity of 0.17%. sell-side analysts expect that Golden Ocean Group will post 0.35 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Swiss National Bank boosted its position in shares of Golden Ocean Group by 21.7% during the 4th quarter. Swiss National Bank now owns 140,260 shares of the shipping company’s stock worth $1,140,000 after purchasing an additional 25,000 shares during the period. Navellier & Associates Inc purchased a new position in shares of Golden Ocean Group during the 4th quarter worth approximately $558,000. Deutsche Bank AG boosted its position in shares of Golden Ocean Group by 32.3% during the 4th quarter. Deutsche Bank AG now owns 635,270 shares of the shipping company’s stock worth $5,176,000 after purchasing an additional 154,923 shares during the period. Renaissance Technologies LLC boosted its position in shares of Golden Ocean Group by 12.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,067,082 shares of the shipping company’s stock worth $8,697,000 after purchasing an additional 121,810 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Golden Ocean Group by 750.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 304,215 shares of the shipping company’s stock worth $2,471,000 after purchasing an additional 268,460 shares during the period. 24.99% of the stock is owned by hedge funds and other institutional investors.

About Golden Ocean Group

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.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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