Shares of Golden Ocean Group Limited (NASDAQ:GOGL) have earned an average rating of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $8.33.

GOGL has been the topic of several research analyst reports. Zacks Investment Research cut shares of Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Seaport Global Securities initiated coverage on shares of Golden Ocean Group Limited in a report on Tuesday, June 13th. They set a “buy” rating and a $10.00 price target on the stock. DNB Markets upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. J P Morgan Chase & Co upgraded shares of Golden Ocean Group Limited from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 4th. Finally, BidaskClub upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Thursday, July 6th.

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in Golden Ocean Group Limited by 52.3% in the fourth quarter. Renaissance Technologies LLC now owns 183,800 shares of the shipping company’s stock valued at $866,000 after buying an additional 63,100 shares during the last quarter. Swiss National Bank raised its stake in Golden Ocean Group Limited by 26.0% in the first quarter. Swiss National Bank now owns 115,260 shares of the shipping company’s stock valued at $875,000 after buying an additional 23,802 shares during the last quarter. Trexquant Investment LP acquired a new stake in Golden Ocean Group Limited during the first quarter valued at about $484,000. JPMorgan Chase & Co. raised its stake in Golden Ocean Group Limited by 4,697.9% in the first quarter. JPMorgan Chase & Co. now owns 262,063 shares of the shipping company’s stock valued at $2,005,000 after buying an additional 256,601 shares during the last quarter. Finally, EAM Investors LLC acquired a new stake in Golden Ocean Group Limited during the first quarter valued at about $4,081,000. 11.93% of the stock is owned by institutional investors and hedge funds.

Golden Ocean Group Limited (GOGL) opened at 8.70 on Friday. Golden Ocean Group Limited has a 12 month low of $3.40 and a 12 month high of $9.05. The company has a 50 day moving average price of $7.26 and a 200 day moving average price of $6.89. The stock’s market capitalization is $1.08 billion.

Golden Ocean Group Limited (NASDAQ:GOGL) last posted its quarterly earnings results on Thursday, August 17th. The shipping company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. Golden Ocean Group Limited had a negative net margin of 14.69% and a negative return on equity of 4.00%. The business had revenue of $99.86 million for the quarter, compared to analysts’ expectations of $65.36 million. Equities research analysts predict that Golden Ocean Group Limited will post ($0.37) earnings per share for the current year.

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About Golden Ocean Group Limited

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 Limited (NASDAQ:GOGL)

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