GOGL Stock Summary and Trading Ideas (Golden Ocean Group | NASDAQ:GOGL)

Golden Ocean Group Ltd is a Bermuda-based dry bulk shipping company. Its business involves the transportation of dry bulk cargo including ores, coal, grains and fertilizers through its fleet of owned and chartered vessels, bareboat vessels, commercial management vessels and new buildings are chartered-out on fixed rate time charters and index-linked time charter contracts.

Golden Ocean Group trades on the NASDAQ stock market under the symbol GOGL.

As of September 19, 2024, GOGL stock price climbed to $12.43 with 811,405 million shares trading.

GOGL has a beta of 0.99, meaning it tends to be less sensitive to market movements. GOGL has a correlation of 0.14 to the broad based SPY ETF.

GOGL has a market cap of $2.49 billion. This is considered a Mid Cap stock.

Last quarter Golden Ocean Group reported $250 million in Revenue and $.32 earnings per share. This beat revenue expectation by $56 million and exceeded earnings estimates by $.03.

In the last 3 years, GOGL stock traded as high as $16.46 and as low as $6.89.

The top ETF exchange traded funds that GOGL belongs to (by Net Assets): IWM, IWN, BSVO, VTWO, VTWV.

GOGL has outperformed the market in the last year with a price return of +77.4% while the SPY ETF gained +29.9%. However, in the short term, GOGL had mixed performance relative to the market. It has underperformed in the last 3 months, returning -2.2% vs +4.4% return in SPY. But in the last 2 weeks, GOGL shares have fared better than the market returning +9.8% compared to SPY +3.6%.

GOGL support price is $11.77 and resistance is $12.19 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GOGL stock will trade within this expected range on the day.