Golden Ocean Group (GOGL) Downgraded by Morgan Stanley

Golden Ocean Group (NASDAQ:GOGL) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday, MarketBeat reports.

Several other research analysts also recently commented on GOGL. BidaskClub downgraded shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Clarkson Capital downgraded shares of Golden Ocean Group from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Golden Ocean Group has a consensus rating of “Buy” and an average target price of $11.00.

Golden Ocean Group (NASDAQ GOGL) traded up $0.44 on Monday, reaching $8.59. 299,553 shares of the company traded hands, compared to its average volume of 208,447. The company has a market cap of $1,200.00, a P/E ratio of -45.21 and a beta of 2.13. Golden Ocean Group has a 52 week low of $5.43 and a 52 week high of $9.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.68 and a current ratio of 2.68.

A number of large investors have recently made changes to their positions in the business. Navellier & Associates Inc bought a new position in Golden Ocean Group in the 4th quarter valued at $558,000. Citadel Advisors LLC bought a new position in Golden Ocean Group in the 4th quarter valued at $293,000. Arrowstreet Capital Limited Partnership boosted its holdings in Golden Ocean Group by 750.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 304,215 shares of the shipping company’s stock valued at $2,471,000 after purchasing an additional 268,460 shares during the period. Covalis Capital LLP bought a new stake in shares of Golden Ocean Group during the 4th quarter worth $357,000. Finally, Swiss National Bank lifted its holdings in shares of Golden Ocean Group by 21.7% during the 4th quarter. Swiss National Bank now owns 140,260 shares of the shipping company’s stock worth $1,140,000 after acquiring an additional 25,000 shares during the last quarter. 24.96% of the stock is owned by hedge funds and other 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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