Golden Ocean Group Limited [GOGL] Stock trading around $15.70 per share: What’s Next?


Golden Ocean Group Limited [NASDAQ: GOGL] stock went on an upward path that rose over 0.90% on Monday, amounting to a one-week price increase of more than 6.73%. The company report on May 19, 2022 that GOGL – Mandatory notification of trade by primary insiders.

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Eligible option holders in Golden Ocean Group Ltd have today exercised share options in accordance with the terms previously announced.

Ulrik Uhrenfeldt Andersen, CEO, has exercised 300,000 share options and subsequently sold 300,000 shares. Following the exercise, Mr. Andersen holds 250,000 share options.

Over the last 12 months, GOGL stock rose by 46.05%. The one-year Golden Ocean Group Limited stock forecast points to a potential upside of 1.01. The average equity rating for GOGL stock is currently 1.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.24 billion, with 200.44 million shares outstanding and 121.77 million shares in the current float. Compared to the average trading volume of 4.27M shares, GOGL stock reached a trading volume of 6539377 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $15.86 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 1.50. 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 0.92, with the Price to Sales ratio for GOGL stock in the period of the last 12 months amounting to 2.69. The Price to Book ratio for the last quarter was 1.68. Price to Free Cash Flow for GOGL in the course of the last twelve months was 27.91.

GOGL Stock Performance Analysis:

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 6.73. With this latest performance, GOGL shares gained by 19.94% in over the last four-week period, additionally plugging by 97.73% over the last 6 months – not to mention a rise of 46.05% 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 64.28, with the RSI for the last a single of trading hit 66.41, and the three-weeks RSI is set at 62.63 for Golden Ocean Group Limited [GOGL]. The present Moving Average for the last 50 days of trading for this stock 12.85, while it was recorded at 15.45 for the last single week of trading, and 10.70 for the last 200 days.

Insight into Golden Ocean Group Limited 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 Current Ratio set at 1.20.

Golden Ocean Group Limited [GOGL] Insider Position Details

There are presently around $500 million, or 27.00% 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 8,465,084, which is approximately 14.566% of the company’s market cap and around 5.60% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 3,658,689 shares of the stock with an approximate value of $56.93 million in GOGL stocks shares; and FMR LLC, currently with $50.05 million in GOGL stock with ownership of nearly -43.037% 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 95 institutional holders increased their position in Golden Ocean Group Limited [NASDAQ:GOGL] by around 9,556,526 shares. Additionally, 42 investors decreased positions by around 18,441,243 shares, while 11 investors held positions by with 4,159,795 shares. The mentioned changes placed institutional holdings at 32,157,564 shares, according to the latest SEC report filing. GOGL stock had 53 new institutional investments in for a total of 2,955,634 shares, while 17 institutional investors sold positions of 1,237,017 shares during the same period.