Golden Ocean Group (GOGL) Upgraded at Clarkson Capital

Golden Ocean Group (NASDAQ:GOGL) was upgraded by Clarkson Capital from a “neutral” rating to a “buy” rating in a note issued to investors on Monday.

Other research analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Golden Ocean Group from an “overweight” rating to an “equal” rating in a report on Monday. BidaskClub downgraded shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $11.00.

Shares of Golden Ocean Group (NASDAQ GOGL) traded up $0.24 during trading on Monday, reaching $8.15. 157,800 shares of the company traded hands, compared to its average volume of 203,725. The company has a market cap of $1,142.12, a P/E ratio of -38.81 and a beta of 2.15. 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 one year low of $5.43 and a one year high of $9.95.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its holdings in shares of Golden Ocean Group by 3.3% during the 2nd 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 during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Golden Ocean Group by 10.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 1,840 shares during the last quarter. WealthTrust Axiom LLC boosted its holdings in shares of Golden Ocean Group by 24.0% during the 4th quarter. WealthTrust Axiom LLC now owns 31,671 shares of the shipping company’s stock valued at $258,000 after purchasing an additional 6,140 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 purchasing an additional 13,235 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Golden Ocean Group during the 3rd quarter valued at about $128,000. 24.96% of the stock is owned by institutional investors and hedge funds.

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Golden Ocean Group 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.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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