Golden Ocean Group Limited (NASDAQ:GOGL) saw a downside of -2.66% to $7.51 after subtracting -$0.2 on Tuesday. The 5-day average trading volume is 1,183,806 shares of the company’s common stock. It has gained $7.76 in the past week and touched a new high 3 times within the past 5 days. An average of 1,293,557 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,379,655.
GOGL’s 1-month performance is -0.46% or -$0.02 on its low of $7.08 reached on 07/21/23. The company’s shares have touched a 52-week low of $6.99 and high of $11.68, with the stock’s rally to the 52-week high happening on 03/01/23. YTD, GOGL has lost -13.64% or -$1.17 and has reached a new high 15 times. However, the current price is down -35.74% from the 52-week high price.
Valuation Metrics
GOGL stock has a beta of 1.28. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.43 while the price-to-book (PB) in the most recent quarter is 0.89.
As well, the company’s long term debt to equity for the quarter ending March 30 was 0.64, while the total debt to equity was 0.70. In terms of profitability, the gross margin trailing 12 months is 50.60%. The trailing 12-month EBITDA margin is 47.70% while for the period ending March 30, Golden Ocean Group Limited’s operating margin was 32.70%. The firm’s gross profit as reported stood at $551.53 million against revenue of $1.11 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Golden Ocean Group Limited’s cash and short-term investments amounted to $2.19 million against total debt of $1.32 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -14.15% to $461.85 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected GOGL to announce -$0.04 per share in earnings in its latest quarter, but it posted -$0.04, representing a 0.00% surprise. EBITDA for the quarter stood at more than $40.52 million. GOGL stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 1.45 billion, with total debt at $1.32 billion.
Let’s look briefly at Golden Ocean Group Limited (GOGL) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 46.98% to suggest the stock is trending Neutral, with historical volatility in this time period at 39.05%.
The stock’s 5-day moving average is $7.59, reflecting a -2.66% or -$0.20 change from its current price. GOGL is currently trading -3.03% above its 20-day SMA, -20.81% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +0.60% and SMA200 by-12.41%.
Stochastic %K and %D was 65.27% and 64.20% and the average true range (ATR) pointed at 0.21. The RSI (14) points at 47.65%, while the 14-day stochastic is at 52.09% with the period’s ATR at 0.21. The stock’s 9-day MACD Oscillator is pointing at -0.01 and 0.10 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Golden Ocean Group Limited (NASDAQ: GOGL), Jefferies downgraded it to a Hold rating. They previously had a Buy rating on the stock. Analysts offering their rating for GOGL stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate GOGL as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 7 have offered a “buy” rating.
What is GOGL’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $7.22 and a high of $18.01, with their median price target at $11.25. Looking at these predictions, the average price target given by analysts is for Golden Ocean Group Limited (GOGL) stock is $11.84.
