Market Analysts see Golden Ocean Group Limited [GOGL] gaining to $14. Time to buy?

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Golden Ocean Group Limited [NASDAQ: GOGL] traded at a low on 08/03/22, posting a -5.31 loss after which it closed the day’ session at $10.52. The company report on July 22, 2022 that GOGL – 2021 Annual ESG Report.


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Golden Ocean Group Ltd (OSE/NYSE: GOGL) today released its fourth annual ESG Report.

The 2021 report is prepared in accordance with the Marine Transportation framework established by the Sustainability Accounting Standards Board (SASB), the disclosure requirements of the UN Global Compact as well as reporting guidelines for NASDAQ/Euronext stock exchanges.

The results of the trading session contributed to over 3226114 shares changing hands. Over the past one week, the price volatility of Golden Ocean Group Limited stands at 3.50% while the volatility over the past one month is 3.39%.

The market cap for GOGL stock reached $2.19 billion, with 200.44 million shares outstanding and 121.77 million shares in the current float. Compared to the average trading volume of 4.16M shares, GOGL reached a trading volume of 3226114 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 $14.66 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.

Jefferies have made an estimate for Golden Ocean Group Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 21, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Neutral. The new note on the price target was released on September 13, 2021, representing the official price target for Golden Ocean Group Limited stock.

The Average True Range (ATR) for Golden Ocean Group Limited is set at 0.47, with the Price to Sales ratio for GOGL stock in the period of the last 12 months amounting to 1.67. The Price to Book ratio for the last quarter was 1.13. Price to Free Cash Flow for GOGL in the course of the last twelve months was 18.84.

How has GOGL stock performed recently?

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 -7.15. With this latest performance, GOGL shares gained by 0.57% in over the last four-week period, additionally plugging by 9.70% over the last 6 months – not to mention a rise of 7.46% 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 40.75, with the RSI for the last a single of trading hit 39.53, and the three-weeks RSI is set at 41.53 for Golden Ocean Group Limited [GOGL]. The present Moving Average for the last 50 days of trading for this stock 12.35, while it was recorded at 11.00 for the last single week of trading, and 11.08 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 Current Ratio set at 1.20.

Insider trade positions for Golden Ocean Group Limited [GOGL]

There are presently around $331 million, or 26.30% 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 $38.49 million in GOGL stocks shares; and FMR LLC, currently with $33.84 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 August and at the time of the August reporting period, where 97 institutional holders increased their position in Golden Ocean Group Limited [NASDAQ:GOGL] by around 8,640,254 shares. Additionally, 44 investors decreased positions by around 18,573,789 shares, while 15 investors held positions by with 4,208,967 shares. The mentioned changes placed institutional holdings at 31,423,010 shares, according to the latest SEC report filing. GOGL stock had 50 new institutional investments in for a total of 2,233,665 shares, while 16 institutional investors sold positions of 1,168,088 shares during the same period.

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