Golden Ocean Group Limited [GOGL] moved down -10.92: Why It’s Important

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Golden Ocean Group Limited [NASDAQ: GOGL] plunged by -$1.43 during the normal trading session on Monday and reaching a high of $12.52 during the day while it closed the day at $11.66. The company report on March 23, 2022 that GOGL – Filing of 2021 Annual Report on Form 20-F.

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Golden Ocean Group Limited (NASDAQ and OSE: GOGL) announces that its annual report on Form 20-F for the year ended December 31, 2021 (the “Annual Report”) has been filed with the U.S. Securities and Exchange Commission (the “Commission”). The Annual Report may be accessed through the Company’s website, www.goldenocean.bm, or in the link below. The Annual Report is also available on the website of the Commission, www.sec.gov.

Shareholders may also request a hard copy of the Annual Report, which includes the Company’s complete 2021 audited financial statements, by contacting the Investor Relations department.

Golden Ocean Group Limited stock has also loss -16.48% of its value over the past 7 days. However, GOGL stock has inclined by 42.20% in the 3 months of the year. Over the past six months meanwhile, it has gained 24.57% and gained 25.38% year-on date.

The market cap for GOGL stock reached $2.40 billion, with 200.53 million shares outstanding and 121.77 million shares in the current float. Compared to the average trading volume of 3.91M shares, GOGL reached a trading volume of 10177209 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Golden Ocean Group Limited [GOGL]:

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 0.79, with the Price to Sales ratio for GOGL stock in the period of the last 12 months amounting to 2.00. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 0.96. Price to Free Cash Flow for GOGL in the course of the last twelve months was 17.50 with Quick ratio for the last quarter at 1.30.

GOGL stock trade performance evaluation

Golden Ocean Group Limited [GOGL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.48. With this latest performance, GOGL shares dropped by -2.91% in over the last four-week period, additionally plugging by 24.57% over the last 6 months – not to mention a rise of 39.14% 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 43.85, with the RSI for the last a single of trading hit 38.38, and the three-weeks RSI is set at 47.02 for Golden Ocean Group Limited [GOGL]. The present Moving Average for the last 50 days of trading for this stock 12.12, while it was recorded at 12.99 for the last single week of trading, and 10.29 for the last 200 days.

Golden Ocean Group Limited [GOGL]: An insightful look at the core 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 +42.39 and a Gross Margin at +43.90. Golden Ocean Group Limited’s Net Margin is presently recorded at +43.82.

Return on Equity for this stock inclined to 31.98, with Return on Assets sitting at 17.08.

Golden Ocean Group Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.50.

Golden Ocean Group Limited [GOGL]: Insider Ownership positions

There are presently around $543 million, or 28.70% of GOGL stock, in the hands of institutional investors. The top three institutional holders of GOGL stocks are: FOLKETRYGDFONDET with ownership of 8,136,740, which is approximately 1.999% of the company’s market cap and around 5.60% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 7,388,799 shares of the stock with an approximate value of $96.72 million in GOGL stocks shares; and FMR LLC, currently with $73.92 million in GOGL stock with ownership of nearly -3.597% of the company’s market capitalization.

Positions in Golden Ocean Group Limited stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 62 institutional holders increased their position in Golden Ocean Group Limited [NASDAQ:GOGL] by around 3,393,366 shares. Additionally, 45 investors decreased positions by around 12,969,507 shares, while 12 investors held positions by with 25,091,819 shares. The mentioned changes placed institutional holdings at 41,454,692 shares, according to the latest SEC report filing. GOGL stock had 29 new institutional investments in for a total of 1,312,366 shares, while 18 institutional investors sold positions of 2,083,086 shares during the same period.