The stock price of Golden Ocean Group Limited (NASDAQ: GOGL) has dropped by -0.55 compared to previous close of 12.78. Despite this, the company has seen a gain of 0.47% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-08 that Everybody loves dividends, as they provide a passive income stream, limit drawdowns in other positions, and provide more than one way to profit from an investment.
Is It Worth Investing in Golden Ocean Group Limited (NASDAQ: GOGL) Right Now?
The price-to-earnings ratio for Golden Ocean Group Limited (NASDAQ: GOGL) is 22.61x, which is above its average ratio. Moreover, the 36-month beta value for GOGL is 1.40. Analysts have varying opinions on the stock, with 8 analysts rating it as a “buy,” 4 as “overweight,” 1 as “hold,” and 1 as “sell.”
The public float for GOGL is 118.66M and currently, short sellers hold a 4.21% of that float. On April 09, 2024, GOGL’s average trading volume was 1.80M shares.
GOGL’s Market Performance
The stock of Golden Ocean Group Limited (GOGL) has seen a 0.47% increase in the past week, with a -8.76% drop in the past month, and a 29.30% gain in the past quarter. The volatility ratio for the week is 1.79%, and the volatility levels for the past 30 days are at 1.92% for GOGL. The simple moving average for the past 20 days is -1.47% for GOGL’s stock, with a 39.00% simple moving average for the past 200 days.
Analysts’ Opinion of GOGL
Jefferies, on the other hand, stated in their research note that they expect to see GOGL reach a price target of $11, previously predicting the price at $8. The rating they have provided for GOGL stocks is “Buy” according to the report published on October 24th, 2023.
Jefferies gave a rating of “Hold” to GOGL, setting the target price at $10 in the report published on September 26th of the previous year.
GOGL Trading at 4.85% 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 -8.89% of loss for the given period.
Volatility was left at 1.92%, however, over the last 30 days, the volatility rate increased by 1.79%, as shares sank -5.73% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.97% upper at present.
During the last 5 trading sessions, GOGL rose by +0.16%, which changed the moving average for the period of 200-days by +60.99% in comparison to the 20-day moving average, which settled at $12.86. In addition, Golden Ocean Group Limited saw 30.23% 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:
- 0.22 for the present operating margin
- 0.24 for the gross margin
The net margin for Golden Ocean Group Limited stands at 0.13. The total capital return value is set at 0.06. Equity return is now at value 5.85, with 3.33 for asset returns.
Based on Golden Ocean Group Limited (GOGL), the company’s capital structure generated 0.42 points at debt to capital in total, while cash flow to debt ratio is standing at 0.19. The debt to equity ratio resting at 0.72. The interest coverage ratio of the stock is 1.91.
Currently, EBITDA for the company is 326.75 million with net debt to EBITDA at 3.98. When we switch over and look at the enterprise to sales, we see a ratio of 4.39. The receivables turnover for the company is 8.01for trailing twelve months and the total asset turnover is 0.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.23.
Conclusion
To wrap up, the performance of Golden Ocean Group Limited (GOGL) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
