Jefferies Financial Group Reiterates Hold Rating for Golden Ocean Group (NASDAQ:GOGL)

Golden Ocean Group (NASDAQ:GOGL)‘s stock had its “hold” rating reiterated by Jefferies Financial Group in a research report issued on Wednesday,Benzinga reports. They currently have a $10.00 price target on the shipping company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 1.52% from the stock’s previous close.

Separately, Pareto Securities reaffirmed a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st.

Golden Ocean Group Stock Performance

Shares of GOGL stock opened at $9.85 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.97 billion, a P/E ratio of 8.14 and a beta of 1.16. The business’s 50 day moving average is $9.16 and its two-hundred day moving average is $10.64. Golden Ocean Group has a 12-month low of $8.52 and a 12-month high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. Analysts expect that Golden Ocean Group will post 1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Golden Ocean Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp raised its stake in Golden Ocean Group by 683.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock worth $25,000 after purchasing an additional 2,391 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Golden Ocean Group during the 3rd quarter worth approximately $28,000. Sterling Capital Management LLC raised its position in shares of Golden Ocean Group by 830.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock valued at $35,000 after buying an additional 3,478 shares during the period. Quarry LP lifted its holdings in Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock valued at $45,000 after acquiring an additional 3,294 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Golden Ocean Group in the fourth quarter worth approximately $46,000. 22.00% of the stock is currently owned by institutional investors and hedge funds.

About Golden Ocean Group

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.