Golden Ocean Group Limited (NASDAQ:GOGL) at last check was buoying at $8.23 on Friday, September 23, with a fall of -5.24% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $8.69 and 5Y monthly beta was reading 1.36 with its price kept floating in the range of $8.68 and $8.925 on the day. Company’s P/E ratio for the trailing 12 months is 2.54. Considering stock’s 52-week price range provides that GOGL hit a high price of $16.46 and saw its price falling to a low level of $7.59 during that period. Over a period of past 1-month, stock came subtracting -17.47% in its value.
With its current market valuation of $1.81 billion, Golden Ocean Group Limited is set to declare its quarterly results on Nov 17, 2021 – Nov 22, 2021. GOGL Stock’s Forward Dividend of 2.40 and its yield of 27.62% are making investors’ thoughts stronger that it could climb further before the company announces its earnings for the current quarter. Analysts are in estimates of $6.1 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $26.56 for 2022 with estimates of that growing to $18.65 in next year. These estimates are suggesting current year growth of 16.40% for EPS and -29.80% growth next year.
Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $2.29 billion. They suggested that in the process company could generate revenue of as low as $2.17 billion which could climb up to $2.4 billion to hit a high. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $9.44 billion in 2022, which will be 13.60% more from revenue generated by the company last year.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review GOGL stock’s current outlook then short term indicators are assigning it an average of 100% Sell, while medium term indicators are categorizing the stock at an average of 100% Sell. Long term indicators are suggesting an average of 50% Sell for it.
Digging deeper we become aware of the PEG ratio of the GOGL stock which is currently positioned at 0. It further provides that stock’s current price level is -11.54% away from its 20-day simple moving average and is -19.62% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 34.65 while volatility remained at 3.54% over the past week which changes to 3.40% when measuring it over the past month. Beta is valued at 1.31, while measure of average true range or ATR is currently at 0.43.
In comparing Golden Ocean Group Limited (GOGL)’s stock with other industry players reveals that stock’s latest price change of -5.24% and that of -15.47% over the past 12 months is in competing position with that of Frontline Ltd. (FRO) which saw its stock price fall by -6.05% in the recent trading and went through an increase of 57.70% in past 12-month trading. Industry’s another major player Golar LNG Limited (GLNG) has fall -9.02% down in latest trading session, but over the past year has faced arise of 128.33%, while Star Bulk Carriers Corp. (SBLK) was also down -5.41% however its price remained floating in the red at -6.39% over the same period. Golden Ocean Group Limited has a P/E ratio of 2.54 against that of Frontline Ltd.’s 41.61 while Golar LNG Limited is showing 4.74 for the same. On the other hand, the S&P 500 Index is down -1.79% in the early deals today while the Dow Jones Industrial was dealinglower at -1.47%.
Having a second look at Golden Ocean Group Limited (NASDAQ:GOGL) provides that stock’s average daily trading volume for 3 months was 3.61 million, while it jumped to 3.28 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 200.64 million.
The percentage of outstanding shares held by the insiders is 5.60% while it is 33.30% for the institutional holders. The figures also indicate that as of Jul 14, 2022, number of stock’s short shares was 6.88 million which implies a short ratio of 1.54. This shows up a 3.42% of Short Interest in company’s outstanding shares on the day. In July the standing of shares short improved as it was 3.55 million in the previous month. Subtraction of -6.56% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.