Golden Ocean Group Limited [GOGL] fell -9.14% so far this year. What now?

Golden Ocean Group Limited [NASDAQ: GOGL] loss -3.21% or -0.28 points to close at $8.45 with a heavy trading volume of 4227009 shares. The company report on September 2, 2022 that GOGL – Notice of Annual General Meeting 2022.


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Golden Ocean Group Limited announces that its 2022 Annual General Meeting will be held on September 30, 2022. A copy of the Notice of Annual General Meeting and associated information including the Company’s Consolidated Financial Statements on Form 20-F for 2021 can be found on our website at www.goldenocean.bm and in the links below.

It opened the trading session at $8.57, the shares rose to $8.59 and dropped to $8.37, the range by which the price of stock traded the whole day. The daily chart for GOGL points out that the company has recorded -28.63% loss over the past six months. However, it is still -11.33% lower than its most recent low trading price.

If we look at the average trading volume of 3.81M shares, GOGL reached to a volume of 4227009 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $14.30 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 0.49, with the Price to Sales ratio for GOGL stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 0.87. Price to Free Cash Flow for GOGL in the course of the last twelve months was 15.59.

Trading performance analysis for GOGL stock

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 -10.58. With this latest performance, GOGL shares dropped by -21.90% in over the last four-week period, additionally sinking by -28.63% over the last 6 months – not to mention a drop of -29.73% 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 27.68, with the RSI for the last a single of trading hit 22.14, and the three-weeks RSI is set at 31.87 for Golden Ocean Group Limited [GOGL]. The present Moving Average for the last 50 days of trading for this stock 10.61, while it was recorded at 9.28 for the last single week of trading, and 11.26 for the last 200 days.

Golden Ocean Group Limited [GOGL]: A deeper dive into fundamental analysis

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 1.50.

An analysis of insider ownership at Golden Ocean Group Limited [GOGL]

There are presently around $471 million, or 33.30% of GOGL stock, in the hands of institutional investors. The top three institutional holders of GOGL stocks are: FOLKETRYGDFONDET with ownership of 7,599,324, which is approximately 7444.026% of the company’s market cap and around 5.60% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 6,991,568 shares of the stock with an approximate value of $59.08 million in GOGL stocks shares; and BLACKROCK INC., currently with $53.32 million in GOGL stock with ownership of nearly 59344.437% 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 113 institutional holders increased their position in Golden Ocean Group Limited [NASDAQ:GOGL] by around 31,450,728 shares. Additionally, 52 investors decreased positions by around 8,333,156 shares, while 18 investors held positions by with 15,955,004 shares. The mentioned changes placed institutional holdings at 55,738,888 shares, according to the latest SEC report filing. GOGL stock had 51 new institutional investments in for a total of 4,846,369 shares, while 23 institutional investors sold positions of 2,288,319 shares during the same period.

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