In a report issued on October 14, Joakim Hannisdahl from Cleaves Securities maintained a Buy rating on Golden Ocean Group Limited (GOGL), with a price target of $9.00. The company’s shares closed last Monday at $5.97.
According to TipRanks.com, Hannisdahl is a 4-star analyst with an average return of 28.0% and a 82.4% success rate. Hannisdahl covers the Services sector, focusing on stocks such as Eagle Bulk Shipping Inc, Nordic American Tanker, and Diana Shipping Inc.
Golden Ocean Group Limited has an analyst consensus of Moderate Buy, with a price target consensus of $8.10, which is a 36.8% upside from current levels. In a report issued on October 12, Drewry Financial also maintained a Buy rating on the stock with a $7.20 price target.
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Based on Golden Ocean Group Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $33.09 million. In comparison, last year the company had a net profit of $35.29 million.
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Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. The company manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It also involves in the charter, purchase, and sale of vessels.
