why Golden Ocean Group Limited [GOGL] is a Good Choice for Investors After New Price Target of $15.15


Golden Ocean Group Limited [NASDAQ: GOGL] jumped around 0.82 points on Tuesday, while shares priced at $13.36 at the close of the session, up 6.54%. The company report on May 2, 2022 that GOGL – Changes to the Board composition.

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May 02, 2022 – Hamilton, Bermuda.

Golden Ocean Group Limited Ltd (“GOGL” or “the Company”) announces that Mr. Tor Svelland has resigned as a Director of the Company.

Golden Ocean Group Limited stock is now 43.66% up from its year-to-date (YTD) trading value. GOGL Stock saw the intraday high of $13.585 and lowest of $12.56 per share. The company’s 52-week high price is 14.27, which means current price is +75.33% above from all time high which was touched on 04/18/22.

Compared to the average trading volume of 4.08M shares, GOGL reached a trading volume of 4428354 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]?

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 0.78, with the Price to Sales ratio for GOGL stock in the period of the last 12 months amounting to 2.27. The Price to Book ratio for the last quarter was 1.39, with the Price to Cash per share for the same quarter was set at 0.97. Price to Free Cash Flow for GOGL in the course of the last twelve months was 19.89 with Quick ratio for the last quarter at 1.30.

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 13.99. With this latest performance, GOGL shares gained by 4.87% in over the last four-week period, additionally plugging by 44.59% over the last 6 months – not to mention a rise of 46.01% 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 58.06, with the RSI for the last a single of trading hit 60.46, and the three-weeks RSI is set at 57.13 for Golden Ocean Group Limited [GOGL]. The present Moving Average for the last 50 days of trading for this stock 12.24, while it was recorded at 12.77 for the last single week of trading, and 10.37 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 +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.

Insider trade positions for Golden Ocean Group Limited [GOGL]

There are presently around $520 million, or 29.00% 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 $92.66 million in GOGL stocks shares; and FMR LLC, currently with $70.81 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 70 institutional holders increased their position in Golden Ocean Group Limited [NASDAQ:GOGL] by around 3,492,793 shares. Additionally, 44 investors decreased positions by around 12,969,591 shares, while 13 investors held positions by with 25,043,089 shares. The mentioned changes placed institutional holdings at 41,505,473 shares, according to the latest SEC report filing. GOGL stock had 38 new institutional investments in for a total of 1,446,667 shares, while 17 institutional investors sold positions of 2,083,170 shares during the same period.