Fintel reports that on August 29, 2023, Jefferies maintained coverage of Golden Ocean Group (NASDAQ:GOGL) with a Hold recommendation.
Analyst Price Forecast Suggests 87.01% Upside
As of August 2, 2023, the average one-year price target for Golden Ocean Group is 12.90. The forecasts range from a low of 8.58 to a high of $15.75. The average price target represents an increase of 87.01% from its latest reported closing price of 6.90.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Golden Ocean Group is 716MM, a decrease of 31.49%. The projected annual non-GAAP EPS is 1.23.
What is the Fund Sentiment?
There are 207 funds or institutions reporting positions in Golden Ocean Group. This is an increase of 4 owner(s) or 1.97% in the last quarter. Average portfolio weight of all funds dedicated to GOGL is 0.04%, a decrease of 23.05%. Total shares owned by institutions decreased in the last three months by 9.55% to 41,098K shares. 
The put/call ratio of GOGL is 0.63, indicating a bullish outlook.
What are Other Shareholders Doing?
Folketrygdfondet holds 8,857K shares representing 4.44% ownership of the company. In it's prior filing, the firm reported owning 8,508K shares, representing an increase of 3.94%. The firm decreased its portfolio allocation in GOGL by 20.35% over the last quarter.
Mirabella Financial Services Llp holds 1,572K shares representing 0.79% ownership of the company. In it's prior filing, the firm reported owning 1,223K shares, representing an increase of 22.20%. The firm decreased its portfolio allocation in GOGL by 25.54% over the last quarter.
Geode Capital Management holds 1,395K shares representing 0.70% ownership of the company. In it's prior filing, the firm reported owning 1,331K shares, representing an increase of 4.63%. The firm decreased its portfolio allocation in GOGL by 24.75% over the last quarter.
Citigroup holds 1,384K shares representing 0.69% ownership of the company. In it's prior filing, the firm reported owning 855K shares, representing an increase of 38.24%. The firm increased its portfolio allocation in GOGL by 160.86% over the last quarter.
Goldman Sachs Group holds 1,222K shares representing 0.61% ownership of the company. In it's prior filing, the firm reported owning 3,547K shares, representing a decrease of 190.37%. The firm decreased its portfolio allocation in GOGL by 11.22% over the last quarter.
Golden Ocean Group Background Information
(This description is provided by the company.)
Golden Ocean, a leading dry bulk shipping company, owns or controls a modern fleet of 78 vessels with an average age of approximately 6 years. The Company is one of the largest publicly listed owners of Capesize vessels and has a leading position in the ice class Panamax vessel niche.
Additional reading:
- INTERIM FINANCIAL INFORMATION GOLDEN OCEAN GROUP LIMITED Second Quarter 2023 August 29, 2023
- Golden Ocean Group Limited. (the "Company" or "Golden Ocean") (Nasdaq and OSE: GOGL) today announced that Ulrik Andersen, Chief Executive Officer of Golden Ocean Management AS, has decided to step down from his position. The Board has appointed Lars-
- INTERIM FINANCIAL INFORMATION GOLDEN OCEAN GROUP LIMITED First Quarter 2023 May 16, 2023
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