Golden Ocean Group Limited (NASDAQ: GOGL) is 29.71% higher on its value in year-to-date trading and has touched a low of $6.89 and a high of $13.95 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The GOGL stock was last observed hovering at around $12.85 in the last trading session, with the day’s loss setting it -0.19%.
Currently trading at $12.66, the stock is -2.28% and 9.01% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.5 million and changing -1.48% at the moment leaves the stock 42.42% off its SMA200. GOGL registered 34.68% gain for a year compared to 6-month gain of 64.63%. The firm has a 50-day simple moving average (SMA 50) of $4.38 and a 200-day simple moving average (SMA200) of $11.20.
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The stock witnessed a 6.39% loss in the last 1 month and extending the period to 3 months gives it a 34.25%, and is -2.24% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.76% over the week and 2.30% over the month.
Golden Ocean Group Limited (GOGL) has around 38 employees, a market worth around $2.53B and $885.77M in sales. Current P/E ratio is 22.52 and Fwd P/E is 7.14. Profit margin for the company is 12.68%. Distance from 52-week low is 83.74% and -9.25% from its 52-week high. The company has generated returns on investments over the last 12 months (3.44%).
Golden Ocean Group Limited quarterly earnings per share for the current quarter are estimated at $0.22 with sales reaching $184.27M over the same period.The EPS is expected to grow by 158.16% this year, but quarterly earnings will post 35.40% year-over-year. Quarterly sales are estimated to grow 39.30% in year-over-year returns.
Golden Ocean Group Limited (GOGL) Top Institutional Holders
239 institutions hold shares in Golden Ocean Group Limited (GOGL), with institutional investors hold 50.88% of the company’s shares. The shares outstanding are 199.63M, and float is at 118.66M with Short Float at 4.45%. Institutions hold 30.72% of the Float.
The top institutional shareholder in the company is Folketrygdfondet with over 8.86 million shares valued at $66.87 million. The investor’s holdings represent 4.42% of the GOGL Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 6.18 million shares valued at $46.68 million to account for 3.08% of the shares outstanding. The other top investors are State Street Corporation which holds 1.93 million shares representing 0.96% and valued at over $14.58 million, while MIRABELLA FINANCIAL SERVICES LLP holds 0.78% of the shares totaling 1.57 million with a market value of $11.87 million.
