Golden Ocean Group Limited (NASDAQ:GOGL) shares, rose in value on Thursday, October 14, with the stock price down by -2.54% to the previous day’s close as strong demand from buyers drove the stock to $9.59.
Actively observing the price movement in the recent trading, the stock is buoying the session at $9.84, falling within a range of $9.61 and $9.88. The value of beta (5-year monthly) is 1.82 whereas the PE ratio is 9.01 over 12-month period. Referring to stock’s 52-week performance, its high was $12.17, and the low was $3.17. On the whole, GOGL has fluctuated by -13.72% over the past month.
With the market capitalization of Golden Ocean Group Limited currently standing at about $2.04 billion, investors are eagerly awaiting this quarter’s results, scheduled for Nov 17, 2021 – Nov 22, 2021. The company’s Forward Dividend Ratio is 0.75, with its dividend yield at 7.62%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that GOGL’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a Hold.
8 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 3 analyst(s), 5 recommend it as a Buy and 0 called the GOGL stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GOGL currently trading nearly -8.76% and -10.22% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.02, while the 7-day volatility ratio is showing 3.04% which for the 30-day chart, stands at 3.79%. Furthermore, Golden Ocean Group Limited (GOGL)’s beta value is 1.79, and its average true range (ATR) is 0.48. The company’s stock has been forecasted to trade at an average price of $13.44 over the course of the next 52 weeks, with a low of $10.46 and a high of $18.00. Based on these price targets, the low is -9.07% off current price, whereas the price has to move -87.7% to reach the yearly target high. Additionally, analysts’ median price of $13.10 is likely to be welcomed by investors because it represents a decrease of -36.6% from the current levels.
A comparison of Golden Ocean Group Limited (GOGL) with its peers suggests the former has fared considerably weaker in the market. GOGL showed an intraday change of -2.54% in today’s session so far, and over the past year, it grew by 161.70%%. In comparison, Frontline Ltd. (FRO) has moved higher at 3.04% today and is up 29.69% over the past 12 months. On the other hand, the price of Golar LNG Limited (GLNG) has fallen -0.29% today. The stock, however, is off 91.99% from where it was a year ago. Additionally, there is a loss of -1.53% for Star Bulk Carriers Corp. (SBLK) in recent trading while the stock has seen an overall depriciation of 229.42%% over the past year. The PE ratio stands at 9.01 for Golden Ocean Group Limited, compared to 34.19 for Frontline Ltd. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 1.35%. Meanwhile, the Dow Jones Industrial Improved by 1.33%.
Data on historical trading for Golden Ocean Group Limited (NASDAQ:GOGL) indicates that the trading volume over the past 3 months, they’ve averaged 1.43 million. According to company’s latest data on outstanding shares, there are 199.40 million shares outstanding.
Nearly 5.60% of Golden Ocean Group Limited’s shares belong to company insiders and institutional investors own 33.30% of the company’s shares. The stock has risen by 112.53% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GOGL stock heading into the next quarter.