Golden Ocean Group Limited [GOGL] Is Currently 1.41 below its 200 Period Moving Avg: What Does This Mean?


Golden Ocean Group Limited [NASDAQ: GOGL] price surged by 1.41 percent to reach at $0.18. 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.

A sum of 4758943 shares traded at recent session while its average daily volume was at 4.26M shares. Golden Ocean Group Limited shares reached a high of $13.43 and dropped to a low of $12.71 until finishing in the latest session at $12.96.

The one-year GOGL stock forecast points to a potential upside of 18.28. The average equity rating for GOGL stock is currently 1.50, trading closer to a bullish pattern in the stock market.

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 0.81, with the Price to Sales ratio for GOGL stock in the period of the last 12 months amounting to 2.03. The Price to Book ratio for the last quarter was 1.39. Price to Free Cash Flow for GOGL in the course of the last twelve months was 22.93.

GOGL Stock Performance Analysis:

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 -17.40. With this latest performance, GOGL shares dropped by -6.29% in over the last four-week period, additionally plugging by 61.19% over the last 6 months – not to mention a rise of 17.60% 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 39.06, with the RSI for the last a single of trading hit 31.58, and the three-weeks RSI is set at 43.76 for Golden Ocean Group Limited [GOGL]. The present Moving Average for the last 50 days of trading for this stock 13.71, while it was recorded at 13.47 for the last single week of trading, and 11.03 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 $422 million, or 26.90% 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 $46.76 million in GOGL stocks shares; and FMR LLC, currently with $41.11 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 10,397,833 shares. Additionally, 43 investors decreased positions by around 18,546,543 shares, while 11 investors held positions by with 4,054,495 shares. The mentioned changes placed institutional holdings at 32,998,871 shares, according to the latest SEC report filing. GOGL stock had 53 new institutional investments in for a total of 3,796,941 shares, while 18 institutional investors sold positions of 1,342,317 shares during the same period.