Golden Ocean Group Limited (GOGL) Stock Could Soon Reward Patient Investors

Golden Ocean Group Limited (NASDAQ: GOGL) is -2.56% lower on its value in year-to-date trading and has touched a low of $8.42 and a high of $15.77 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GOGL stock was last observed hovering at around $9.56 in the last trading session, with the day’s loss setting it -0.05%.

Currently trading at $9.51, the stock is -12.94% and -16.32% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.47 million and changing -0.52% at the moment leaves the stock -24.85% off its SMA200. GOGL registered 9.94% gain for a year compared to 6-month loss of -29.08%. The firm has a 50-day simple moving average (SMA 50) of $11.4382 and a 200-day simple moving average (SMA200) of $12.66685.

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The stock witnessed a -19.27% gain in the last 1 month and extending the period to 3 months gives it a -14.01%, and is -3.26% 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 2.27% over the week and 2.17% over the month.

Golden Ocean Group Limited (GOGL) has around 38 employees, a market worth around $1.84B and $1.01B in sales. Current P/E ratio is 7.86 and Fwd P/E is 6.60. Profit margin for the company is 23.89%. Distance from 52-week low is 12.95% and -39.70% from its 52-week high. The company has generated returns on investments over the last 12 months (7.57%).

The EPS is expected to grow by 104.77% this year.

Golden Ocean Group Limited (GOGL) Top Institutional Holders

The shares outstanding are 200.03M, and float is at 119.11M with Short Float at 3.77%.

The top institutional shareholder in the company is FOLKETRYGDFONDET with over 7.49 million shares valued at $103.32 million. The investor’s holdings represent 3.7498% of the GOGL Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 6.52 million shares valued at $90.0 million to account for 3.2661 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 5.28 million shares representing 2.6436% and valued at over $72.85 million, while ARROWSTREET CAPITAL, LIMITED PARTNERSHIP holds 2.2108 of the shares totaling 4.41 million with a market value of $60.99 million.