At the time of writing, Golden Ocean Group Limited [GOGL] stock is trading at $13.25, up 3.19%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The GOGL shares have gain 2.87% over the last week, with a monthly amount drifted -1.41%, and not seem to be holding up well over a long-time horizon.
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On 20, March 2024, GOGL – Filing of 2023 Annual Report on Form 20-F. In a post published today on Yahoo Finance, Golden Ocean Group Limited (NASDAQ and OSE: GOGL) announces that its annual report on Form 20-F for the year ended December 31, 2023 (the “Annual Report”) has been filed with the U.S. Securities and Exchange Commission (the “Commission”). The Annual Report may be accessed through the Company’s website, www.goldenocean.bm, or in the link below. The Annual Report is also available on the website of the Commission, www.sec.gov.
From an analyst’s perspective:
Golden Ocean Group Limited [NASDAQ: GOGL] stock has seen the most recent analyst activity on January 05, 2024, when BTIG Research downgraded its rating to a Neutral. Previously, Jefferies upgraded its rating to Buy on October 24, 2023, and elevated its price target to $11. On September 26, 2022, downgrade downgraded it’s rating to Hold and revised its price target to $10 on the stock. Jefferies started tracking the stock assigning a Buy rating and suggested a price target of $14 on July 21, 2022. H.C. Wainwright initiated its recommendation with a Neutral and recommended $13 as its price target on September 13, 2021. Danske Bank upgraded its rating to Buy for this stock on November 22, 2019. In a note dated February 12, 2018, Morgan Stanley downgraded an Equal-Weight rating on this stock.
For the past year, the stock price of Golden Ocean Group Limited fluctuated between $6.89 and $13.95. Currently, Wall Street analysts expect the stock to reach $16 within the next 12 months. Golden Ocean Group Limited [NASDAQ: GOGL] shares were valued at $13.25 at the most recent close of the market. An investor can expect a potential return of 20.75% based on the average GOGL price forecast.
Analyzing the GOGL fundamentals
According to Golden Ocean Group Limited [NASDAQ:GOGL], the company’s sales were 885.77M for trailing twelve months, which represents an 1.86% jump. Gross Profit Margin for this corporation currently stands at 0.24% with Operating Profit Margin at 0.22%, Pretax Profit Margin comes in at 0.13%, and Net Profit Margin reading is 0.13%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.06 and Total Capital is 0.06. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.72.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 13.08 points at the first support level, and at 12.90 for the second support level. However, for the 1st resistance point, the stock is sitting at 13.50, and for the 2nd resistance point, it is at 13.74.
Golden Ocean Group Limited [GOGL] reported earnings per share of $0.29 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.27/share, meaning a difference of $0.02 and a surprise factor of 7.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.14 per share as compared to estimates of $0.06 per share, a difference of $0.08 representing a surprise of 133.30%.
Ratios To Look Out For
It is important to note that Golden Ocean Group Limited [NASDAQ:GOGL] has a current ratio of 1.23. Also, the Quick Ratio is 1.05, while the Cash Ratio stands at 0.52. Considering the valuation of this stock, the price to sales ratio is 2.99, the price to book ratio is 1.38 and price to earnings (TTM) ratio is 23.57.
