BidaskClub downgraded shares of Golden Ocean Group Limited (NASDAQ:GOGL) from a buy rating to a hold rating in a report issued on Tuesday morning.

Several other equities research analysts have also weighed in on GOGL. Seaport Global Securities assumed coverage on shares of Golden Ocean Group Limited in a research note on Tuesday, June 13th. They set a buy rating and a $10.00 price objective on the stock. J P Morgan Chase & Co upgraded shares of Golden Ocean Group Limited from a neutral rating to an overweight rating in a research note on Tuesday, July 4th. DNB Markets upgraded shares of Golden Ocean Group Limited from a hold rating to a buy rating in a research note on Tuesday, July 4th. Zacks Investment Research lowered shares of Golden Ocean Group Limited from a hold rating to a sell rating in a research note on Wednesday, June 28th. Finally, Morgan Stanley upgraded shares of Golden Ocean Group Limited from an underweight rating to an overweight rating and increased their price objective for the stock from $2.50 to $10.00 in a research note on Tuesday, March 28th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $8.75.

Golden Ocean Group Limited (NASDAQ:GOGL) traded up 1.78% during trading on Tuesday, hitting $6.88. The company had a trading volume of 76,824 shares. The company’s market cap is $857.74 million. The company’s 50 day moving average price is $6.54 and its 200-day moving average price is $6.62. Golden Ocean Group Limited has a 12 month low of $3.22 and a 12 month high of $9.05.

Golden Ocean Group Limited (NASDAQ:GOGL) last released its quarterly earnings data on Wednesday, May 24th. The shipping company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by $0.03. The business had revenue of $83.82 million for the quarter, compared to analyst estimates of $58.80 million. Golden Ocean Group Limited had a negative return on equity of 5.71% and a negative net margin of 26.08%. Equities analysts expect that Golden Ocean Group Limited will post ($0.36) earnings per share for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Driehaus Capital Management LLC purchased a new position in Golden Ocean Group Limited during the first quarter valued at approximately $701,000. Credit Suisse AG boosted its position in Golden Ocean Group Limited by 1,270.4% in the first quarter. Credit Suisse AG now owns 848,076 shares of the shipping company’s stock valued at $6,488,000 after buying an additional 786,192 shares during the period. Jane Street Group LLC purchased a new position in Golden Ocean Group Limited during the first quarter valued at approximately $1,319,000. BlueCrest Capital Management Ltd purchased a new position in Golden Ocean Group Limited during the first quarter valued at approximately $361,000. Finally, Highbridge Capital Management LLC purchased a new position in Golden Ocean Group Limited during the first quarter valued at approximately $147,000. Hedge funds and other institutional investors own 12.38% of the company’s stock.

Golden Ocean Group Limited 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.

Analyst Recommendations for Golden Ocean Group Limited (NASDAQ:GOGL)

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