Golden Ocean Group (GOGL) Upgraded at Clarkson Capital

Golden Ocean Group (NASDAQ:GOGL) was upgraded by research analysts at Clarkson Capital from a “neutral” rating to a “buy” rating in a report issued on Monday, The Fly reports.

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. Zacks Investment Research cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Morgan Stanley cut shares of Golden Ocean Group from an “overweight” rating to an “equal” rating in a research note on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $11.00.

Shares of Golden Ocean Group (NASDAQ:GOGL) traded up $0.24 on Monday, hitting $8.15. 157,800 shares of the stock were exchanged, compared to its average volume of 206,849. Golden Ocean Group has a 52 week low of $5.43 and a 52 week high of $9.95. 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 current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.94.

Several large investors have recently modified their holdings of GOGL. Riverstone Holdings LLC bought a new position in Golden Ocean Group during the third quarter worth $85,044,000. GSA Capital Partners LLP acquired a new position in shares of Golden Ocean Group during the third quarter valued at about $717,000. Jane Street Group LLC raised its position in shares of Golden Ocean Group by 106.9% during the third quarter. Jane Street Group LLC now owns 140,086 shares of the shipping company’s stock valued at $1,098,000 after buying an additional 72,393 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Golden Ocean Group by 82.6% during the second quarter. Dimensional Fund Advisors LP now owns 346,531 shares of the shipping company’s stock valued at $2,328,000 after buying an additional 156,706 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Golden Ocean Group by 19.2% during the second quarter. Goldman Sachs Group Inc. now owns 82,159 shares of the shipping company’s stock valued at $552,000 after buying an additional 13,235 shares during the last quarter. Institutional investors own 24.96% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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