Golden Ocean Group (NASDAQ:GOGL) Price Target Cut to $12.00 by Analysts at Jefferies Financial Group

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) had its price objective decreased by analysts at Jefferies Financial Group from $12.50 to $12.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the shipping company's stock. Jefferies Financial Group's price objective would indicate a potential upside of 10.50% from the company's previous close.

Several other research firms have also weighed in on GOGL. Pareto Securities reaffirmed a "hold" rating and set a $12.50 target price on shares of Golden Ocean Group in a report on Thursday, November 21st. StockNews.com lowered shares of Golden Ocean Group from a "buy" rating to a "hold" rating in a report on Saturday, October 5th.

Golden Ocean Group Stock Down 2.0 %

GOGL stock opened at $10.86 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. Golden Ocean Group has a 52 week low of $8.42 and a 52 week high of $15.77. The firm has a 50 day moving average of $11.82 and a 200 day moving average of $12.60. The stock has a market capitalization of $2.17 billion, a PE ratio of 10.15 and a beta of 1.20.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. The business had revenue of $197.35 million during the quarter, compared to analysts' expectations of $187.74 million. Golden Ocean Group had a net margin of 22.01% and a return on equity of 10.57%. Sell-side analysts forecast that Golden Ocean Group will post 1.18 earnings per share for the current year.

Institutional Trading of Golden Ocean Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in Golden Ocean Group in the third quarter valued at approximately $28,000. Nisa Investment Advisors LLC grew its stake in shares of Golden Ocean Group by 1,720.1% during the second quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company's stock worth $52,000 after purchasing an additional 3,595 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Golden Ocean Group by 2,319.5% during the second quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company's stock worth $127,000 after purchasing an additional 8,791 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Golden Ocean Group during the first quarter worth $149,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Golden Ocean Group during the first quarter worth $151,000. Hedge funds and other institutional investors own 22.00% of the company's stock.

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.

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