As of Thursday close, Golden Ocean Group Limited’s (NASDAQ:GOGL) stock was down -$0.12, moving down -1.59 percent to $7.45. The average number of shares traded per day over the past five days has been 1,445,720 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.22 fall in that time frame. In the last twenty days, the average volume was 1,480,450, while in the previous 50 days, it was 1,360,996.
Since last month, GOGL stock rose 2.90%. Shares of the company fell to $6.89 on 08/28/23, the lowest level in the past month. A 52-week high of $10.58 was reached on 03/01/23 after having rallying from a 52-week low of $6.89. Since the beginning of this year, GOGL’s stock price has dropped by -14.27% or -$1.24, and marked a new high 15 times. However, the stock has declined by -29.58% since its 52-week high.
Valuation Metrics
Right now, Golden Ocean Group Limited (GOGL) has a P/E ratio of about 7.55. The stock’s beta is 1.28. Besides these, the trailing price-to-sales (P/S) ratio of 1.58, the price-to-book (PB) ratio of 0.82.
The latest dividend of $0.10 per share was paid out, remained unchanged from last year’s $0.10. On Tuesday May 16 2023, a $0.10 dividend decrease was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.71, and the total debt-to-equity ratio was 0.78. On the profitability front, the trailing twelve-month gross margin is 44.70% percent. In the year ended June 29, EBITDA margin amounted to 47.70%, whereas operating margins totaled 24.40%. Based on annual data, GOGL earned $551.53 million in gross profit and brought in $1.11 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 13.80%. Return on equity (ROE) for the past 12 months was 10.50%.
In Golden Ocean Group Limited’s quarter-end financial report for June 29, it reported total debt of $1.03 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. GOGL’s revenue fell -8.06% during the quarter, while net income inched up to $1.11 billion. While analysts expected Golden Ocean Group Limited to report $0.12 quarterly earnings, the actual figure was $0.17 per share, beating the consensus estimate by 41.70%. During the quarter, the company generated $78.7 million in EBITDA. The liabilities of Golden Ocean Group Limited were 1.59 billion at the end of its most recent quarter ended June 29, and its total debt was $1.47 billion.
Technical Picture
This quick technical analysis looks at Golden Ocean Group Limited’s (GOGL) price momentum. With a historical volatility rate of 25.11%, the RSI 9-day stood at 48.00% on 21 September.
With respect to its five-day moving average, the current Golden Ocean Group Limited price is down by -2.87% percent or -$0.22. At present, GOGL shares trade +3.62% above its 20-day simple moving average and -18.58% percent below its 100-day simple moving average. However, the stock is currently trading approximately -5.46% below its SMA50 and -9.70% below its SMA200.
Stochastic coefficient K was 55.49% and Stochastic coefficient D was 65.45%, while ATR was 0.18. Given the Stochastic reading of 37.10% for the 14-day period, the RSI (14) reading has been calculated as 49.43%. As of today, the MACD Oscillator reading stands at 0.03, while the 14-day reading stands at 0.08.
Analyst Ratings
Golden Ocean Group Limited downgraded its rating on Golden Ocean Group Limited (NASDAQ: GOGL) to a Hold in a note to investors on September 26, 2022. The analysts firm previously had a Buy rating on the stock.Golden Ocean Group Limited (GOGL) has been rated Overweight by analysts. According to 0 brokerage firms, GOGL is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Golden Ocean Group Limited stock as buy, with 8 recommending it as overweight.
With a median target price of $9.96, the current consensus forecast for the stock is $7.10 – $17.80. Based on these forecasts, analysts predict Golden Ocean Group Limited (GOGL) will achieve an average price target of $10.37.
