Golden Ocean Group Limited (NASDAQ: GOGL) has a price-to-earnings ratio that is above its average at 7.77x. and a 36-month beta value of 1.29. Opinions on the stock are mixed, with 8 analysts rating it as a “buy,” 0 as “overweight,” 3 as “hold,” and 0 as “sell.”
The average price predicted for Golden Ocean Group Limited (GOGL) by analysts is $10.37, which is $4.08 above the current market price. The public float for GOGL is 120.86M, and at present, short sellers hold a 5.41% of that float. On September 19, 2023, the average trading volume of GOGL was 1.35M shares.
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GOGL) stock’s latest price update
The stock of Golden Ocean Group Limited (NASDAQ: GOGL) has increased by 1.25 when compared to last closing price of 7.57. Despite this, the company has experienced a 3.72% gain in its stock price over the last five trading sessions. Seeking Alpha reported 2023-09-19 that Golden Ocean is a global dry bulk shipping company that has recently experienced a downturn in its financials due to macroeconomic pressures. The company can sustain dividend payments as a result of the gradual rebound in the industry demand, which makes the annual dividend $0.40, representing a dividend yield of 5.20%. Despite the risk of fluctuating charter rates, the stock is undervalued and has the potential for 29.29% growth, with a decent dividend yield.
GOGL’s Market Performance
GOGL’s stock has risen by 3.72% in the past week, with a monthly rise of 2.75% and a quarterly drop of -1.22%. The volatility ratio for the week is 1.65% while the volatility levels for the last 30 days are 1.95% for Golden Ocean Group Limited The simple moving average for the past 20 days is 4.60% for GOGL’s stock, with a -9.69% simple moving average for the past 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 26, 2022 of the previous year 2022.
GOGL Trading at 2.55% 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 -27.55% of loss for the given period.
Volatility was left at 1.95%, however, over the last 30 days, the volatility rate increased by 1.65%, as shares surge +5.08% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.59% upper at present.
During the last 5 trading sessions, GOGL rose by +3.65%, which changed the moving average for the period of 200-days by -9.24% in comparison to the 20-day moving average, which settled at $7.35. In addition, Golden Ocean Group Limited saw -11.80% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for GOGL
Current profitability levels for the company are sitting at:
- +36.04 for the present operating margin
- +37.87 for the gross margin
The net margin for Golden Ocean Group Limited stands at +41.48. The total capital return value is set at 12.33, while invested capital returns managed to touch 14.77. Equity return is now at value 10.50, with 6.00 for asset returns.
Based on Golden Ocean Group Limited (GOGL), the company’s capital structure generated 64.97 points at debt to equity in total, while total debt to capital is 39.38. Total debt to assets is 38.24, with long-term debt to equity ratio resting at 58.87. Finally, the long-term debt to capital ratio is 35.69.
When we switch over and look at the enterprise to sales, we see a ratio of 2.79, with the company’s debt to enterprise value settled at 0.44. The receivables turnover for the company is 10.96 and the total asset turnover is 0.33. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.41.
Conclusion
To sum up, Golden Ocean Group Limited (GOGL) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
