Golden Ocean Group Limited [GOGL] Stock trading around $9.04 per share: What’s Next?


Golden Ocean Group Limited [NASDAQ: GOGL] traded at a high on 12/30/21, posting a 0.56 gain after which it closed the day’ session at $9.04. The company report on November 24, 2021 that GOGL – Q3 2021 Presentation.

Please find enclosed the presentation of Golden Ocean Group Limited’s third quarter 2021 results for today’s webcast / conferance call at 15:00 CET.

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The results of the trading session contributed to over 2048556 shares changing hands. Over the past one week, the price volatility of Golden Ocean Group Limited stands at 3.08% while the volatility over the past one month is 3.76%.

The market cap for GOGL stock reached $1.79 billion, with 200.42 million shares outstanding and 121.59 million shares in the current float. Compared to the average trading volume of 2.05M shares, GOGL reached a trading volume of 2048556 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Golden Ocean Group Limited [GOGL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOGL shares is $14.11 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GOGL stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Golden Ocean Group Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 13, 2021. The new note on the price target was released on November 22, 2019, representing the official price target for Golden Ocean Group Limited stock.

The Average True Range (ATR) for Golden Ocean Group Limited is set at 0.40, with the Price to Sales ratio for GOGL stock in the period of the last 12 months amounting to 1.81. The Price to Book ratio for the last quarter was 0.96. Price to Free Cash Flow for GOGL in the course of the last twelve months was 9.20.

How has GOGL stock performed recently?

Golden Ocean Group Limited [GOGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.73. With this latest performance, GOGL shares dropped by -3.93% in over the last four-week period, additionally sinking by -15.16% over the last 6 months – not to mention a rise of 94.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GOGL stock in for the last two-week period is set at 56.07, with the RSI for the last a single of trading hit 63.11, and the three-weeks RSI is set at 52.61 for Golden Ocean Group Limited [GOGL]. The present Moving Average for the last 50 days of trading for this stock 8.74, while it was recorded at 8.89 for the last single week of trading, and 9.47 for the last 200 days.

Golden Ocean Group Limited [GOGL]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Golden Ocean Group Limited [GOGL] shares currently have an operating margin of +4.99 and a Gross Margin at +7.25. Golden Ocean Group Limited’s Net Margin is presently recorded at -22.65.

Return on Total Capital for GOGL is now 1.11, given the latest momentum, and Return on Invested Capital for the company is -5.28. Return on Equity for this stock declined to -9.55, with Return on Assets sitting at -4.84. When it comes to the capital structure of this company, Golden Ocean Group Limited [GOGL] has a Total Debt to Total Equity ratio set at 90.50. Additionally, GOGL Total Debt to Total Capital is recorded at 47.51, with Total Debt to Total Assets ending up at 45.52. Long-Term Debt to Equity for the company is recorded at 81.14, with the Long-Term Debt to Total Capital now at 42.59.

Reflecting on the efficiency of the workforce at the company, Golden Ocean Group Limited [GOGL] managed to generate an average of -$3,622,868 per employee. Receivables Turnover for the company is 6.46 with a Total Asset Turnover recorded at a value of 0.21.Golden Ocean Group Limited’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.60.

Earnings analysis for Golden Ocean Group Limited [GOGL]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GOGL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Golden Ocean Group Limited go to -0.20%.

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Insider trade positions for Golden Ocean Group Limited [GOGL]

There are presently around $461 million, or 33.20% of GOGL stock, in the hands of institutional investors. The top three institutional holders of GOGL stocks are: GOLDMAN SACHS GROUP INC with ownership of 9,557,460, which is approximately 4.393% of the company’s market cap and around 5.60% of the total institutional ownership; FOLKETRYGDFONDET, holding 7,977,288 shares of the stock with an approximate value of $71.72 million in GOGL stocks shares; and FMR LLC, currently with $52.66 million in GOGL stock with ownership of nearly 33.927% of the company’s market capitalization.

Positions in Golden Ocean Group Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 48 institutional holders increased their position in Golden Ocean Group Limited [NASDAQ:GOGL] by around 5,535,770 shares. Additionally, 55 investors decreased positions by around 6,123,515 shares, while 13 investors held positions by with 39,604,891 shares. The mentioned changes placed institutional holdings at 51,264,176 shares, according to the latest SEC report filing. GOGL stock had 19 new institutional investments in for a total of 628,839 shares, while 26 institutional investors sold positions of 3,329,473 shares during the same period.