Shares of Golden Ocean Group Ltd (NASDAQ:GOGL) traded up 5.1% on Tuesday . The stock traded as high as $8.82 and last traded at $8.69. 820,300 shares traded hands during trading, an increase of 137% from the average session volume of 346,037 shares. The stock had previously closed at $8.27.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Golden Ocean Group from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, September 4th. Clarkson Capital downgraded shares of Golden Ocean Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 17th. Finally, Nordea Equity Research raised shares of Golden Ocean Group from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $11.00.

The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.94.

A number of hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its holdings in Golden Ocean Group by 3.3% during the second quarter. Northern Trust Corp now owns 29,988 shares of the shipping company’s stock valued at $202,000 after buying an additional 970 shares during the period. Ameriprise Financial Inc. increased its holdings in Golden Ocean Group by 10.7% during the second quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock valued at $128,000 after buying an additional 1,840 shares during the period. Edmond DE Rothschild Holding S.A. increased its holdings in Golden Ocean Group by 9.6% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 34,150 shares of the shipping company’s stock valued at $229,000 after buying an additional 3,000 shares during the period. Goldman Sachs Group Inc. increased its holdings in Golden Ocean Group by 19.2% during the second quarter. Goldman Sachs Group Inc. now owns 82,159 shares of the shipping company’s stock valued at $552,000 after buying an additional 13,235 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in Golden Ocean Group during the third quarter valued at approximately $128,000. 25.04% of the stock is currently owned by institutional investors.

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Golden Ocean Group Company Profile

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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