Golden Ocean Group (NASDAQ:GOGL) Given “Hold” Rating at Pareto Securities

Golden Ocean Group (NASDAQ:GOGL)‘s stock had its “hold” rating reaffirmed by research analysts at Pareto Securities in a research report issued on Thursday,Benzinga reports. They currently have a $12.50 price objective on the shipping company’s stock. Pareto Securities’ target price would indicate a potential upside of 11.71% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating for the company in a research note on Wednesday, August 28th. StockNews.com downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Golden Ocean Group Stock Performance

Golden Ocean Group stock traded down $0.64 during trading hours on Thursday, hitting $11.19. 1,731,889 shares of the stock traded hands, compared to its average volume of 1,575,273. Golden Ocean Group has a 1 year low of $8.42 and a 1 year high of $15.77. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 10.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.00. The firm’s 50 day moving average price is $11.87 and its 200-day moving average price is $12.71.

Golden Ocean Group (NASDAQ:GOGL) last posted its earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. The business had revenue of $197.35 million for the quarter, compared to analyst estimates of $187.74 million. Golden Ocean Group had a net margin of 22.01% and a return on equity of 10.57%. As a group, equities analysts expect that Golden Ocean Group will post 1.18 EPS for the current fiscal year.

Institutional Trading of Golden Ocean Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Golden Ocean Group in the 3rd quarter worth approximately $1,543,000. Two Sigma Advisers LP raised its position in shares of Golden Ocean Group by 6.9% during the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock valued at $36,817,000 after buying an additional 177,100 shares during the last quarter. Quadrature Capital Ltd grew its position in Golden Ocean Group by 8.4% in the third quarter. Quadrature Capital Ltd now owns 66,760 shares of the shipping company’s stock valued at $894,000 after acquiring an additional 5,180 shares during the period. Quantinno Capital Management LP grew its stake in shares of Golden Ocean Group by 96.3% during the third quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock valued at $264,000 after purchasing an additional 9,684 shares during the last quarter. Finally, Petrus Trust Company LTA raised its holdings in shares of Golden Ocean Group by 117.0% during the third quarter. Petrus Trust Company LTA now owns 73,984 shares of the shipping company’s stock worth $990,000 after acquiring an additional 39,891 shares during the period. 22.00% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.