Golden Ocean Group Ltd (GOGL) Given Average Rating of “Buy” by Analysts

Golden Ocean Group Ltd (NASDAQ:GOGL) has been assigned an average rating of “Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $10.00.

A number of equities research analysts have weighed in on GOGL shares. Zacks Investment Research upgraded Golden Ocean Group from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, September 4th. Clarkson Capital downgraded Golden Ocean Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 17th. Finally, BidaskClub downgraded Golden Ocean Group from a “hold” rating to a “sell” rating in a research report on Thursday.

Large investors have recently made changes to their positions in the company. Morgan Stanley lifted its position in shares of Golden Ocean Group by 1,410.3% during the 1st quarter. Morgan Stanley now owns 220,374 shares of the shipping company’s stock valued at $1,686,000 after acquiring an additional 205,783 shares during the last quarter. Riverstone Holdings LLC acquired a new stake in shares of Golden Ocean Group during the 3rd quarter valued at $85,044,000. Dimensional Fund Advisors LP lifted its position in shares of Golden Ocean Group by 82.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 346,531 shares of the shipping company’s stock valued at $2,328,000 after acquiring an additional 156,706 shares during the last quarter. Folketrygdfondet lifted its position in shares of Golden Ocean Group by 4.9% during the 2nd quarter. Folketrygdfondet now owns 6,642,402 shares of the shipping company’s stock valued at $44,637,000 after acquiring an additional 310,880 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Golden Ocean Group by 19.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 82,159 shares of the shipping company’s stock valued at $552,000 after acquiring an additional 13,235 shares during the last quarter. Institutional investors own 24.99% of the company’s stock.

Shares of Golden Ocean Group (NASDAQ:GOGL) opened at $8.13 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.68 and a quick ratio of 2.68. Golden Ocean Group has a 52-week low of $4.24 and a 52-week high of $9.95.

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About Golden Ocean Group

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.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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