Golden Ocean Group (NASDAQ:GOGL) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Golden Ocean Group (NASDAQ:GOGL) in a research report issued on Tuesday. The brokerage set a “hold” rating on the shipping company’s stock.

Separately, Jefferies Financial Group decreased their price target on Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd.

Golden Ocean Group Trading Up 0.6 %

GOGL opened at $7.87 on Tuesday. Golden Ocean Group has a 12-month low of $6.27 and a 12-month high of $15.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $1.57 billion, a PE ratio of 6.50 and a beta of 1.10. The firm’s fifty day moving average price is $7.83 and its 200 day moving average price is $9.13.

Institutional Trading of Golden Ocean Group

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Golden Ocean Group by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company’s stock worth $5,947,000 after buying an additional 106,966 shares during the period. Harbour Capital Advisors LLC grew its position in shares of Golden Ocean Group by 70.6% during the fourth quarter. Harbour Capital Advisors LLC now owns 41,515 shares of the shipping company’s stock worth $378,000 after acquiring an additional 17,185 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Golden Ocean Group by 196.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock worth $8,614,000 after acquiring an additional 637,103 shares during the period. Dakota Wealth Management bought a new stake in Golden Ocean Group in the 4th quarter valued at about $770,000. Finally, SG Americas Securities LLC boosted its stake in Golden Ocean Group by 26.7% during the 4th quarter. SG Americas Securities LLC now owns 59,951 shares of the shipping company’s stock valued at $537,000 after purchasing an additional 12,647 shares during the period. Institutional investors own 22.00% of the company’s stock.

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.