Golden Ocean Group Limited (NASDAQ:GOGL) has a beta value of 1.82 and has seen 1,667,012 shares traded in the last trading session. The company, currently valued at $1.87 Billion, closed the last trade at $9.35 per share which meant it gained $0.65 on the day or 7.47% during that session. The GOGL stock price is -1.5% off its 52-week high price of $9.49 and 71.23% above the 52-week low of $2.69. If we look at the company’s 10-day average daily trading volume, we find that it stood at 559.58 Million shares traded. The 3-month trading volume is 796.64 Million shares.
The consensus among analysts is that Golden Ocean Group Limited (GOGL) is an Overweight stock at the moment, with a recommendation rating of 1.8. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 2 out of 8 have rated it as a Hold, with 6 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.06.
Golden Ocean Group Limited (NASDAQ:GOGL) trade information
Sporting 7.47% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, May 03 when the GOGL stock price touched $9.49-1 or saw a rise of 1.48%. Year-to-date, Golden Ocean Group Limited shares have moved 101.94%, while the 5-day performance has seen it change 11.58%. Over the past 30 days, the shares of Golden Ocean Group Limited (NASDAQ:GOGL) have changed 36.4%. Short interest in the company has seen 1.93 Million shares shorted with days to cover at 0.
Wall Street analysts have a consensus price target for the stock at $9.77, which means that the shares’ value could jump 4.49% from current levels. The projected low price target is $5.3 while the price target rests at a high of $16. In that case, then, we find that the current price level is +71.12% off the targeted high while a plunge would see the stock lose -43.32% from current levels.
Golden Ocean Group Limited (GOGL) estimates and forecasts
Figures show that Golden Ocean Group Limited shares have underperformed across the wider relevant industry. The company’s shares have gained +184.19% over the past 6 months. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 124% and 155.6% for the next quarter. Revenue growth from the last financial year stood is estimated to be +42.8%.
3 analysts offering their estimates for the company have set an average revenue estimate of $113.61 Million for the current quarter. 3 have an estimated revenue figure of $148.99 Million for the next quarter concluding in June 01, 2021. Year-ago sales stood $77.16 Million and $68.79 Million respectively for this quarter and the next, and analysts expect sales will grow by 47.2% for the current quarter and 116.6% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +33.3% over the past 5 years. Earnings growth for 2021 is a modest -471% while over the next 5 years, the company’s earnings are expected to increase by -0.2%.
Golden Ocean Group Limited is expected to release its next earnings report between May 25 and May 31 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.2 at a share yield of 3%.
Golden Ocean Group Limited (NASDAQ:GOGL)’s Major holders
Insiders own 39.88% of the company shares, while shares held by institutions stand at 20.13% with a share float percentage of 33.49%. Investors are also buoyed by the number of investors in a company, with Golden Ocean Group Limited having a total of 117 institutions that hold shares in the company. The top two institutional holders are Russell Investments Group, Ltd. with over 3.51 Million shares worth more than $16.25 Million. As of December 30, 2020, Russell Investments Group, Ltd. held 1.77% of shares outstanding.
The other major institutional holder is Arrowstreet Capital, Limited Partnership, with the holding of over 2.51 Million shares as of December 30, 2020. The firm’s total holdings are worth over $11.6 Million and represent 1.27% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Balanced Fund and Fidelity Value Fund. As of February 27, 2021, the former fund manager holds about 0.63% shares in the company for having 1240500 shares of worth $7.57 Million while later fund manager owns 578.1 Thousand shares of worth $3.53 Million as of February 27, 2021, which makes it owner of about 0.29% of company’s outstanding stock.