Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Golden Ocean Group Ltd (NASDAQ: GOGL) improved during the last several trading days. GOGL’s current Value Trend Rating is B and the prior Rating was C. Details supporting this higher rating are included in our next report.
Recent Price Action
On 12/15/23, Golden Ocean Group Ltd (NASDAQ: GOGL) stock enjoyed a large increase of 3.3%, closing at $9.16. Moreover, this advance was accompanied by above average trading volume at 136% of normal. The stock has performed in line with the market over the last nine months and has risen 5.9% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, GOGL is expected to continue to be a modest Value Builder.
Golden Ocean Group has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Golden Ocean Group has a slightly positive Power Rating of 63 and a slightly positive Appreciation Score of 68, producing the Positive Value Trend Rating.
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