Golden Ocean Group (NASDAQ:GOGL) Price Target Cut to $14.50 by Analysts at Jefferies Financial Group

Golden Ocean Group (NASDAQ:GOGL) had its price objective lowered by Jefferies Financial Group from $15.50 to $14.50 in a research note released on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the shipping company’s stock.

Separately, StockNews.com downgraded shares of Golden Ocean Group from a hold rating to a sell rating in a research report on Wednesday, August 14th.

Golden Ocean Group Stock Down 4.1 %

GOGL opened at $12.09 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68. Golden Ocean Group has a 1-year low of $7.09 and a 1-year high of $15.77. The company has a market capitalization of $2.41 billion, a PE ratio of 13.00 and a beta of 1.16. The firm’s 50 day simple moving average is $12.78 and its two-hundred day simple moving average is $13.12.

Institutional Trading of Golden Ocean Group

Several institutional investors and hedge funds have recently modified their holdings of the company. SummerHaven Investment Management LLC raised its position in shares of Golden Ocean Group by 1.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 95,615 shares of the shipping company’s stock valued at $1,319,000 after purchasing an additional 1,042 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Golden Ocean Group by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,840 shares of the shipping company’s stock valued at $605,000 after purchasing an additional 1,300 shares during the period. ProShare Advisors LLC raised its position in shares of Golden Ocean Group by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 22,128 shares of the shipping company’s stock valued at $287,000 after purchasing an additional 1,742 shares during the period. Sei Investments Co. raised its position in shares of Golden Ocean Group by 4.1% during the 2nd quarter. Sei Investments Co. now owns 54,404 shares of the shipping company’s stock valued at $751,000 after purchasing an additional 2,144 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Golden Ocean Group by 16.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock valued at $225,000 after purchasing an additional 2,267 shares during the period. 22.00% of the stock is currently owned by institutional investors.

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.