Several other equities analysts have also commented on GOGL. JPMorgan Chase & Co. upgraded shares of Golden Ocean Group from an underweight rating to a neutral rating and set a $5.50 price objective on the stock in a report on Wednesday, March 1st. Zacks Investment Research upgraded shares of Golden Ocean Group from a hold rating to a buy rating and set a $4.75 price objective on the stock in a report on Monday, December 5th. Finally, Nordea Equity Research lowered shares of Golden Ocean Group from a buy rating to a hold rating in a report on Tuesday, November 22nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Golden Ocean Group currently has an average rating of Buy and an average target price of $5.08.
Golden Ocean Group (NASDAQ:GOGL) traded down 1.47% during mid-day trading on Wednesday, hitting $8.05. 102,346 shares of the stock traded hands. The stock’s market cap is $853.02 million. The stock has a 50-day moving average price of $6.33 and a 200-day moving average price of $4.79. Golden Ocean Group has a 12 month low of $3.06 and a 12 month high of $8.30.
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Large investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. raised its stake in Golden Ocean Group by 36.0% in the third quarter. Emerald Acquisition Ltd. now owns 1,382,444 shares of the company’s stock worth $5,639,000 after buying an additional 365,649 shares during the period. Russell Investments Group Ltd. acquired a new stake in Golden Ocean Group during the fourth quarter worth about $7,213,000. Dimensional Fund Advisors LP acquired a new stake in Golden Ocean Group during the fourth quarter worth about $653,000. Renaissance Technologies LLC raised its stake in Golden Ocean Group by 52.3% in the fourth quarter. Renaissance Technologies LLC now owns 183,800 shares of the company’s stock worth $866,000 after buying an additional 63,100 shares during the period. Finally, GLG Partners LP acquired a new stake in Golden Ocean Group during the fourth quarter worth about $908,000. Institutional investors own 9.45% of the company’s stock.
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.
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