Golden Ocean Group Limited (NASDAQ:GOGL) issued its quarterly earnings results on Thursday. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.03, Morningstar.com reports. Golden Ocean Group Limited had a negative return on equity of 5.71% and a negative net margin of 26.08%.

Shares of Golden Ocean Group Limited (GOGL) opened at 8.65 on Thursday. The company’s 50-day moving average price is $7.15 and its 200-day moving average price is $6.86. The company’s market cap is $1.08 billion. Golden Ocean Group Limited has a 12 month low of $3.40 and a 12 month high of $9.05.

Large investors have recently added to or reduced their stakes in the stock. Zacks Investment Management purchased a new stake in Golden Ocean Group Limited during the second quarter worth $118,000. Two Sigma Securities LLC purchased a new stake in Golden Ocean Group Limited during the first quarter worth $123,000. Ameriprise Financial Inc. increased its stake in Golden Ocean Group Limited by 10.7% in the second quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock worth $128,000 after buying an additional 1,840 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in Golden Ocean Group Limited during the first quarter worth $147,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Golden Ocean Group Limited during the first quarter worth $168,000. Institutional investors and hedge funds own 11.93% of the company’s stock.

Several equities analysts have recently issued reports on GOGL shares. J P Morgan Chase & Co upgraded Golden Ocean Group Limited from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 4th. Zacks Investment Research lowered Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. DNB Markets upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. BidaskClub upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Seaport Global Securities started coverage on Golden Ocean Group Limited in a research note on Tuesday, June 13th. They issued a “buy” rating and a $10.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $8.75.

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Golden Ocean Group Limited 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.

Earnings History for Golden Ocean Group Limited (NASDAQ:GOGL)

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