An Analysis Of Golden Ocean Group Limited (GOGL) Stock

Golden Ocean Group Limited (NASDAQ:GOGL) has a beta value of 1.37 and has seen 0.86 million shares traded in the recent trading session. The company, currently valued at $2.10B, closed the recent trade at $10.89 per share which meant it lost -$0.12 on the day or -1.09% during that session. The GOGL stock price is -51.15% off its 52-week high price of $16.46 and 30.3% above the 52-week low of $7.59. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.96 million shares traded. The 3-month trading volume is 4.45 million shares.

The consensus among analysts is that Golden Ocean Group Limited (GOGL) is an Overweight stock at the moment, with a recommendation rating of 1.50. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 9 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $3.75.

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Sporting -1.09% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 07/19/22 when the GOGL stock price touched $10.89 or saw a rise of 2.16%. Year-to-date, Golden Ocean Group Limited shares have moved 18.39%, while the 5-day performance has seen it change 9.44%. Over the past 30 days, the shares of Golden Ocean Group Limited (NASDAQ:GOGL) have changed -11.71%. Short interest in the company has seen 3.9 million shares shorted with days to cover at 0.92.

Wall Street analysts have a consensus price target for the stock at $15.17, which means that the shares’ value could jump 28.21% from the levels at last check today. The projected low price target is $11.00 while the price target rests at a high of $19.00. In that case, then, we find that the latest price level in today’s session is -74.47% off the targeted high while a plunge would see the stock gain -1.01% from the levels at last check today.

Golden Ocean Group Limited (GOGL) estimates and forecasts

The company’s shares have gained 18.13% over the past 6 months, compared to 14.30% for the industry. Revenue growth from the last financial year stood is estimated to be 1.50%.

2 analysts offering their estimates for the company have set an average revenue estimate of $1.82 billion for the current quarter. 1 have an estimated revenue figure of $2.2 billion for the next quarter concluding in Jun 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 32.20% over the past 5 years.

GOGL Dividends

Golden Ocean Group Limited is expected to release its next earnings report between November 17 and November 22 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 2.00 at a share yield of 18.17%. The company’s dividend yield has gone up over the past 12 months.

Golden Ocean Group Limited (NASDAQ:GOGL)’s Major holders

Insiders own 39.25% of the company shares, while shares held by institutions stand at 26.70% with a share float percentage of 43.95%. Investors are also buoyed by the number of investors in a company, with Golden Ocean Group Limited having a total of 196 institutions that hold shares in the company. The top two institutional holders are Folketrygdfondet with over 8.14 million shares worth more than $100.73 million. As of Mar 30, 2022, Folketrygdfondet held 4.12% of shares outstanding.

The other major institutional holder is Goldman Sachs Group Inc, with the holding of over 7.39 million shares as of Dec 30, 2021. The firm’s total holdings are worth over $68.72 million and represent 3.74% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Goldman Sachs International Small Cap Insights Fund and Fidelity Advisor Growth Opportunities Fund. As of Jan 30, 2022, the former fund manager holds about 1.68% shares in the company for having 3.33 million shares of worth $30.12 million while later fund manager owns 2.37 million shares of worth $29.3 million as of Feb 27, 2022, which makes it owner of about 1.20% of company’s outstanding stock.