Price Don’t Lie: Golden Ocean Group Ltd Stock Price Increases Today

Price Don't Lie: Golden Ocean Group Ltd Stock Price Increases Today

The stock of Golden Ocean Group Ltd (NASDAQ:GOGL) is a huge mover today! About 83,688 shares traded hands. Golden Ocean Group Ltd (NASDAQ:GOGL) has declined 8.67% since April 27, 2016 and is downtrending. It has underperformed by 13.89% the S&P500.
The move comes after 7 months positive chart setup for the $447.12 million company. It was reported on Nov, 30 by Barchart.com. We have $4.50 PT which if reached, will make NASDAQ:GOGL worth $31.30M more.

Golden Ocean Group Ltd (NASDAQ:GOGL) Ratings Coverage

Out of 5 analysts covering Golden Ocean Group (NASDAQ:GOGL), 2 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 40% are positive. Golden Ocean Group has been the topic of 9 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The rating was upgraded by Nordea on Tuesday, March 22 to “Buy”. The rating was downgraded by Clarkson Capital to “Neutral” on Tuesday, February 9. On Tuesday, September 1 the stock rating was downgraded by Zacks to “Buy”. Morgan Stanley downgraded the stock to “Underweight” rating in Tuesday, December 15 report. The stock of Golden Ocean Group Ltd (NASDAQ:GOGL) earned “Neutral” rating by JP Morgan on Thursday, October 15. The stock has “Buy” rating given by DNB Markets on Monday, March 7. The stock has “Underweight” rating given by JP Morgan on Tuesday, January 26.

According to Zacks Investment Research, “Golden Ocean Group Limited is a shipping company which engaged in the transportation of dry bulk cargoes. It operates primarily in the Capesize and Panamax market. Golden Ocean Group Limited, formerly known as Knightsbridge Shipping Limited, is based in HAMILTON, Bermuda.”

More recent Golden Ocean Group Ltd (NASDAQ:GOGL) news were published by: Prnewswire.com which released: “Golden Ocean Group Limited to Webcast Live at Maritime Investor Conference on …” on October 06, 2016. Also Prnewswire.com published the news titled: “Golden Ocean Group Limited Maritime Investor Conference Presentation Now …” on October 12, 2016. Marketwatch.com‘s news article titled: “Golden Ocean downgraded to underweight from neutral at JP Morgan” with publication date: June 12, 2012 was also an interesting one.

GOGL Company Profile

Golden Ocean Group Limited, formerly Knightsbridge Shipping Limited, incorporated on November 8, 2004, is an international dry bulk shipping company. The Firm is engaged in the transportation of dry bulk cargoes. The Firm owns and operates a fleet of dry bulk carrier vessels, focusing on the Capesize, Panamax and Supramax markets. The Company’s vessels transport a range of major and minor bulk commodities, including ores, coal, grains and fertilizers, along worldwide shipping routes. The Company’s fleet includes owned vessels, bareboat vessels, chartered vessels, commercial management vessels and newbuildings.

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