Zacks Investment Research downgraded shares of Golden Ocean Group Ltd (NASDAQ:GOGL) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, AnalystRatingsNetwork.com reports.

According to Zacks, “Golden Ocean Group Limited is a shipping company which engaged in the transportation of dry bulk cargoes. It operates primarily in the Capesize and Panamax market. Golden Ocean Group Limited, formerly known as Knightsbridge Shipping Limited, is based in HAMILTON, Bermuda. “

An institutional investor recently bought a new position in Golden Ocean Group stock. Simplex Trading purchased a new stake in shares of Golden Ocean Group Ltd (NASDAQ:GOGL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1 shares of the company’s stock, valued at approximately $0.

Other equities analysts also recently issued reports about the stock. Jefferies Group decreased their price objective on shares of Golden Ocean Group from $4.00 to $1.00 and set a buy rating on the stock in a report on Tuesday, January 19th. JPMorgan Chase & Co. started coverage on shares of Golden Ocean Group in a report on Thursday, October 15th. They issued a neutral rating on the stock. Finally, Morgan Stanley downgraded shares of Golden Ocean Group from an equal weight rating to an underweight rating in a report on Tuesday, December 15th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $2.75.

Shares of Golden Ocean Group (NASDAQ:GOGL) traded up 0.0701% during trading on Wednesday, hitting $0.7142. 118,339 shares of the company’s stock were exchanged. The stock’s market cap is $123.32 million. Golden Ocean Group has a 1-year low of $0.60 and a 1-year high of $5.90. The stock’s 50-day moving average price is $0.94 and its 200-day moving average price is $2.33.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Tuesday, November 24th. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.13. The business had revenue of $65.70 million for the quarter, compared to analysts’ expectations of $51.20 million. On average, equities analysts expect that Golden Ocean Group will post ($0.70) earnings per share for the current fiscal year.

Golden Ocean Group Limited, formerly Knightsbridge Shipping Limited, is an international shipping company. The Company is engaged in the transportation of dry bulk cargoes. As of March 31, 2015, it owned 47 vessels and has 25 new buildings under construction. In addition, it has four vessels chartered-in and one vessel owned through a joint venture. Six of the vessels are chartered out on fixed rate time charters and the remainders operate in the spot market or are fixed on index-linked time charter contract. As of March 31, 2015, the Company owned 18 Capesize dry bulk carriers, of which three were on index-related time charters and 15 were operating in the spot market. The Company’s 181,000 dead weight tons Capesize vessels include KSL Salvador, KSL San Francisco, KSL Santiago, KSL Seattle, KSL Seville, KSL Sapporo and KSL Stockholm, among others. Its 180,000 dead weight tons Capesize newbuildings include KSL Aso, KSL Barnet, KSL Finsbury, KSL Shanghai and KSL Bexley, among others.

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