Golden Ocean Group Limited (NASDAQ: GOGL)’s stock price has gone decline by -0.93 in comparison to its previous close of 11.81, however, the company has experienced a 3.45% increase in its stock price over the last five trading days. seekingalpha.com reported 2024-11-02 that Shipping is an essential tool to serve the growing demand for dry bulk commodities: supply chains must be maintained, amid ongoing conflicts and longer routes. Increased distances and instability risks result in higher shipping costs. Shipping companies with bigger deadweight (dwt) capacity have a competitive edge in that segment. Golden Ocean is strategically well-positioned in the business of higher dwt vessels, where competition is low: a further penetration in this segment could boost its growth and dividends.
Is It Worth Investing in Golden Ocean Group Limited (NASDAQ: GOGL) Right Now?
Golden Ocean Group Limited (NASDAQ: GOGL) has a price-to-earnings ratio that is above its average at 10.92x. The stock has a 36-month beta value of 1.24. Opinions on the stock are mixed, with 8 analysts rating it as a “buy,” 4 as “overweight,” 1 as “hold,” and 1 as “sell.”
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The public float for GOGL is 119.11M, and at present, short sellers hold a 3.66% of that float. On November 14, 2024, the average trading volume of GOGL was 1.41M shares.
GOGL’s Market Performance
The stock of Golden Ocean Group Limited (GOGL) has seen a 3.45% increase in the past week, with a 2.81% rise in the past month, and a -2.99% fall in the past quarter. The volatility ratio for the week is 1.64%, and the volatility levels for the past 30 days are at 1.69% for GOGL. The simple moving average for the last 20 days is 4.96% for GOGL’s stock, with a simple moving average of -7.69% 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 $15.50 based on the research report published on May 22, 2024 of the current year 2024.
Jefferies gave a rating of “Buy” to GOGL, setting the target price at $11 in the report published on October 24th of the previous year.
GOGL Trading at -0.88% 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 -25.81% of loss for the given period.
Volatility was left at 1.69%, however, over the last 30 days, the volatility rate increased by 1.64%, as shares surge +3.72% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.95% upper at present.
During the last 5 trading sessions, GOGL rose by +3.45%, which changed the moving average for the period of 200-days by +10.07% in comparison to the 20-day moving average, which settled at $11.15. In addition, Golden Ocean Group Limited saw 19.88% 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:
- 0.31 for the present operating margin
- 0.33 for the gross margin
The net margin for Golden Ocean Group Limited stands at 0.22. The total capital return value is set at 0.09. Equity return is now at value 11.25, with 6.18 for asset returns.
Based on Golden Ocean Group Limited (GOGL), the company’s capital structure generated 0.41 points at debt to capital in total, while cash flow to debt ratio is standing at 0.25. The debt to equity ratio resting at 0.69. The interest coverage ratio of the stock is 2.64.
Currently, EBITDA for the company is 326.75 million with net debt to EBITDA at 2.9. When we switch over and look at the enterprise to sales, we see a ratio of 3.76. The receivables turnover for the company is 23.85for trailing twelve months and the total asset turnover is 0.28. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.17.
Conclusion
To sum up, Golden Ocean Group Limited (GOGL) has seen a better 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.
