Golden Ocean Group (NASDAQ:GOGL)‘s stock had its “buy” rating reissued by stock analysts at Seaport Global Securities in a note issued to investors on Friday. They presently have a $13.00 target price on the shipping company’s stock. Seaport Global Securities’ price target suggests a potential upside of 44.28% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Friday, May 18th. ValuEngine upgraded shares of Golden Ocean Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. lowered their target price on shares of Golden Ocean Group from $11.50 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, May 31st. Finally, Zacks Investment Research downgraded shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 25th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.88.

Shares of GOGL stock opened at $9.01 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $1.27 billion, a P/E ratio of -450.50 and a beta of 2.08. Golden Ocean Group has a 12 month low of $7.00 and a 12 month high of $9.95.

Golden Ocean Group (NASDAQ:GOGL) last issued its earnings results on Wednesday, May 30th. The shipping company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $149.94 million during the quarter, compared to the consensus estimate of $92.61 million. Golden Ocean Group had a net margin of 6.10% and a return on equity of 2.24%. sell-side analysts anticipate that Golden Ocean Group will post 0.31 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Platinum Investment Management Ltd. acquired a new position in Golden Ocean Group in the second quarter valued at $140,400,000. UBS Group AG boosted its stake in Golden Ocean Group by 296.6% in the first quarter. UBS Group AG now owns 863,021 shares of the shipping company’s stock valued at $6,861,000 after acquiring an additional 645,389 shares in the last quarter. Duff & Phelps Investment Management Co. acquired a new position in Golden Ocean Group in the first quarter valued at $4,864,000. Marshall Wace LLP boosted its stake in Golden Ocean Group by 45.2% in the second quarter. Marshall Wace LLP now owns 1,548,032 shares of the shipping company’s stock valued at $13,329,000 after acquiring an additional 482,130 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Golden Ocean Group by 27.2% in the second quarter. Renaissance Technologies LLC now owns 1,530,646 shares of the shipping company’s stock valued at $13,291,000 after acquiring an additional 327,774 shares in the last quarter. Hedge funds and other institutional investors own 25.15% of the company’s stock.

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.

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