Golden Ocean Group (GOGL) Stock Rating Upgraded by BidaskClub

Golden Ocean Group (NASDAQ:GOGL) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other brokerages also recently issued reports on GOGL. Clarkson Capital downgraded Golden Ocean Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 17th. Zacks Investment Research downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $11.00.

Shares of Golden Ocean Group (NASDAQ GOGL) opened at $8.99 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $1,270.00, a PE ratio of -47.32 and a beta of 2.31. Golden Ocean Group has a 52-week low of $4.71 and a 52-week high of $9.95.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zacks Investment Management acquired a new position in Golden Ocean Group in the 2nd quarter valued at about $118,000. JPMorgan Chase & Co. acquired a new position in Golden Ocean Group in the 3rd quarter valued at about $128,000. Ameriprise Financial Inc. grew its position in Golden Ocean Group by 10.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock valued at $128,000 after acquiring an additional 1,840 shares in the last quarter. Northern Trust Corp grew its position in Golden Ocean Group by 3.3% in the 2nd quarter. Northern Trust Corp now owns 29,988 shares of the shipping company’s stock valued at $202,000 after acquiring an additional 970 shares in the last quarter. Finally, Airain ltd acquired a new position in Golden Ocean Group in the 2nd quarter valued at about $211,000. 24.99% of the stock is owned by institutional investors.

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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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