Golden Ocean Group (NASDAQ:GOGL) Given New $12.00 Price Target at Jefferies Financial Group

Golden Ocean Group (NASDAQ:GOGL) had its price target trimmed by Jefferies Financial Group from $12.50 to $12.00 in a report released on Wednesday,Benzinga reports. The firm currently has a hold rating on the shipping company’s stock.

A number of other analysts have also recently weighed in on GOGL. Pareto Securities reaffirmed a “hold” rating and set a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st. StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

Golden Ocean Group Stock Down 7.1 %

GOGL opened at $10.09 on Wednesday. The stock has a market capitalization of $2.02 billion, a P/E ratio of 9.43 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.17. Golden Ocean Group has a one year low of $8.42 and a one year high of $15.77. The business’s 50-day simple moving average is $11.78 and its 200-day simple moving average is $12.58.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data on Wednesday, August 28th. The shipping company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $197.35 million during the quarter, compared to analysts’ expectations of $187.74 million. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. Analysts anticipate that Golden Ocean Group will post 1.18 EPS for the current year.

Institutional Investors Weigh In On Golden Ocean Group

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in Golden Ocean Group during the third quarter worth $28,000. Nisa Investment Advisors LLC grew its stake in shares of Golden Ocean Group by 1,720.1% during the 2nd 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 during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Golden Ocean Group by 2,319.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 8,791 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Golden Ocean Group during the 1st quarter valued at approximately $149,000. Finally, Bayesian Capital Management LP acquired a new position in 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.