Golden Ocean Group Limited (NASDAQ:GOGL) shares, rose in value on Friday, May 13, with the stock price up by 5.08% to the previous day’s close as strong demand from buyers drove the stock to $14.01.
Actively observing the price movement in the recent trading, the stock is buoying the session at $13.33, falling within a range of $12.73 and $13.66. The value of beta (5-year monthly) is 1.57 whereas the PE ratio is 5.08 over 12-month period. Referring to stock’s 52-week performance, its high was $14.27, and the low was $7.59. On the whole, GOGL has fluctuated by 14.72% over the past month.
With the market capitalization of Golden Ocean Group Limited currently standing at about $2.65 billion, investors are eagerly awaiting this quarter’s results, scheduled for Nov 17, 2021 – Nov 22, 2021. The company’s Forward Dividend Ratio is 3.60, with its dividend yield at 27.01%.
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 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
10 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), 7 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 6.81% and 13.19% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.94, while the 7-day volatility ratio is showing 6.41% which for the 30-day chart, stands at 6.37%. Furthermore, Golden Ocean Group Limited (GOGL)’s beta value is 1.29, and its average true range (ATR) is 0.84. The company’s stock has been forecasted to trade at an average price of $15.29 over the course of the next 52 weeks, with a low of $11.00 and a high of $23.00. Based on these price targets, the low is 21.48% off current price, whereas the price has to move -64.17% to reach the yearly target high. Additionally, analysts’ median price of $14.75 is likely to be welcomed by investors because it represents a decrease of -5.28% 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 5.08% in today’s session so far, and over the past year, it grew by 51.82%%. In comparison, Frontline Ltd. (FRO) has moved higher at 4.24% today and is down -2.79% over the past 12 months. On the other hand, the price of Golar LNG Limited (GLNG) has risen 5.95% today. The stock, however, is off 101.09% from where it was a year ago. Additionally, there is a gain of 6.28% for Star Bulk Carriers Corp. (SBLK) in recent trading while the stock has seen an overall depriciation of 32.06%% over the past year. The PE ratio stands at 5.08 for Golden Ocean Group Limited. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 2.22%. Meanwhile, the Dow Jones Industrial Improved by 1.36%.
Data on historical trading for Golden Ocean Group Limited (NASDAQ:GOGL) indicates that the trading volumes over the past 10 days have averaged 3.63 million and over the past 3 months, they’ve averaged 4.15 million. According to company’s latest data on outstanding shares, there are 200.53 million shares outstanding.
Nearly 5.60% of Golden Ocean Group Limited’s shares belong to company insiders and institutional investors own 29.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.24 million shares as on Jan 30, 2022, resulting in a short ratio of 1.28. According to the data, the short interest in Golden Ocean Group Limited (GOGL) stood at 1.62% of shares outstanding as of Jan 30, 2022; the number of short shares registered in Dec 30, 2021 reached 2.45 million. The stock has risen by 43.33% 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.