Golden Ocean Group Limited (GOGL) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the services sector halfway through the trading day. At the lunch break, shares of GOGL have fallen 4.4% to $4.35 after closing the day prior at $4.55. So far, the stock has traded as high as $4.46 and as low as $4.34. Today’s decline has come with about 61,986 shares changing hands, compared to an average 30-day volume of 92,405 for Golden Ocean Group Limited. The price is currently below the 30-day volume weighted average price of $4.41 for GOGL.
The share depreciation gives the company a market capitalization of $96.41 million based upon 21.19 million shares outstanding. It also means that GOGL has a price-to-book ratio of 0.77:1.
In the past 52 weeks, shares of GOGL have traded as low as $2.55 and as high as $14.3. Technical traders will take note that at $4.35, shares of GOGL are trading above their 200-day MA at $3.81 and above their 50-day MA at $3.73. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is GOGL?
Golden Ocean Group Ltd is a dry bulk shipping company based in Bermuda, mainly operating in the Capesize and Panamax market segments. The company’s 28 employees are led by CEO from the corporate headquarters at 14 Par-la-Ville Road in Hamilton, .
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