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Can Golden Ocean Group Limited (GOGL) Remain Competitive?

Golden Ocean Group Limited (NASDAQ:GOGL) went down by -2.79% from its latest closing price compared to the recent 1-year high of $16.46. The company’s stock price has collected -4.12% of loss in the last five trading sessions.

Is It Worth Investing in Golden Ocean Group Limited (NASDAQ :GOGL) Right Now?

Golden Ocean Group Limited (NASDAQ:GOGL) scored a price-to-earnings ratio above its average ratio, recording 3.06 x from its present earnings ratio. Plus, the 36-month beta value for GOGL is at 1.32.

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GOGL currently public float of 122.22M and currently shorts hold a 5.68% ratio of that float. Today, the average trading volume of GOGL was 2.27M shares.

GOGL’s Market Performance

GOGL stocks went down by -4.12% for the week, with a monthly drop of -3.20% and a quarterly performance of 5.34%, while its annual performance rate touched 9.67%. The volatility ratio for the week stands at 2.77% while the volatility levels for the past 30 days are set at 2.93% for Golden Ocean Group Limited. The simple moving average for the period of the last 20 days is 2.18% for GOGL stocks with a simple moving average of -13.91% for the last 200 days.

Analysts’ Opinion of GOGL

Many brokerage firms have already submitted their reports for GOGL stocks, with Jefferies repeating the rating for GOGL by listing it as a “Hold.” The predicted price for GOGL in the upcoming period, according to Jefferies is $10 based on the research report published on September 26th of the previous year 2022.

Jefferies, on the other hand, stated in their research note that they expect to see GOGL reach a price target of $14. The rating they have provided for GOGL stocks is “Buy” according to the report published on July 21st, 2022.

H.C. Wainwright gave a rating of “Neutral” to GOGL, setting the target price at $13 in the report published on September 13th of the previous year.

GOGL Trading at 3.28% from the 50-Day Moving Average

After a stumble in the market that brought GOGL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -44.89% of loss for the given period.

Volatility was left at 2.93%, however, over the last 30 days, the volatility rate increased by 2.77%, as shares sank -0.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.23% upper at present.

During the last 5 trading sessions, GOGL fell by -4.12%, which changed the moving average for the period of 200-days by -20.92% in comparison to the 20-day moving average, which settled at $8.88. In addition, Golden Ocean Group Limited saw 4.37% in overturn over a single year, with a tendency to cut further gains.

Stock Fundamentals for GOGL

Current profitability levels for the company are sitting at:

  • +42.39 for the present operating margin
  • +43.90 for the gross margin

The net margin for Golden Ocean Group Limited stands at +43.82. Equity return is now at value 31.20, with 17.70 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.49.