Golden Ocean Group (NASDAQ:GOGL) Rating Lowered to Sell at StockNews.com

Posted by on Jun 6th, 2023

Golden Ocean Group (NASDAQ:GOGL – Get Rating) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Several other research analysts also recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $9.50 target price on shares of Golden Ocean Group in a report on Thursday, February 16th. Pareto Securities raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Friday, May 12th.

Golden Ocean Group Trading Down 0.1 %

Shares of Golden Ocean Group stock opened at $7.64 on Tuesday. The company has a market capitalization of $1.53 billion, a P/E ratio of 4.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.14 and a current ratio of 1.14. The company has a fifty day moving average of $8.65 and a 200 day moving average of $8.99. Golden Ocean Group has a fifty-two week low of $6.99 and a fifty-two week high of $16.46.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming lifted its holdings in shares of Golden Ocean Group by 52.8% in the 4th quarter. State of Wyoming now owns 3,517 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 1,215 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Golden Ocean Group by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 77,382 shares of the shipping company’s stock valued at $672,000 after acquiring an additional 1,337 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Golden Ocean Group by 7.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,729 shares of the shipping company’s stock valued at $178,000 after acquiring an additional 1,355 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of Golden Ocean Group by 6.3% in the 3rd quarter. Sigma Planning Corp now owns 23,400 shares of the shipping company’s stock valued at $175,000 after acquiring an additional 1,378 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Golden Ocean Group by 5.1% in the 3rd quarter. Hsbc Holdings PLC now owns 28,828 shares of the shipping company’s stock valued at $216,000 after acquiring an additional 1,397 shares during the last quarter. Institutional investors own 37.16% of the company’s stock.

About Golden Ocean Group

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Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. It manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It is also involved in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.

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