FLEX LNG Ltd. (NYSE:FLNG) Short Interest Up 5.3% in September

by · The Cerbat Gem

FLEX LNG Ltd. (NYSE:FLNG – Get Free Report) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 1,990,000 shares, an increase of 5.3% from the September 15th total of 1,890,000 shares. Approximately 6.6% of the shares of the company are short sold. Based on an average daily trading volume, of 248,000 shares, the short-interest ratio is presently 8.0 days.

Institutional Investors Weigh In On FLEX LNG

Several institutional investors have recently bought and sold shares of the stock. HHM Wealth Advisors LLC acquired a new position in shares of FLEX LNG during the 2nd quarter valued at $47,000. GAMMA Investing LLC raised its position in FLEX LNG by 6,254.8% in the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after acquiring an additional 1,939 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of FLEX LNG during the 2nd quarter valued at about $81,000. Redwood Wealth Management Group LLC acquired a new position in shares of FLEX LNG in the 2nd quarter worth approximately $98,000. Finally, Virtu Financial LLC bought a new stake in shares of FLEX LNG in the 4th quarter worth approximately $200,000.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised shares of FLEX LNG from an “underperform” rating to a “hold” rating and set a $24.00 price objective for the company in a report on Wednesday, August 14th.

View Our Latest Stock Analysis on FLEX LNG

FLEX LNG Stock Performance

FLNG stock traded down $0.30 during mid-day trading on Thursday, reaching $25.44. The company had a trading volume of 223,082 shares, compared to its average volume of 295,419. The stock’s 50-day simple moving average is $26.24 and its two-hundred day simple moving average is $26.73. The stock has a market capitalization of $1.35 billion, a P/E ratio of 10.02 and a beta of 0.71. The company has a quick ratio of 2.54, a current ratio of 2.57 and a debt-to-equity ratio of 2.01. FLEX LNG has a one year low of $24.16 and a one year high of $32.23.

FLEX LNG (NYSE:FLNG – Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. FLEX LNG had a return on equity of 16.79% and a net margin of 32.60%. The company had revenue of $84.70 million for the quarter. Research analysts anticipate that FLEX LNG will post 2.37 EPS for the current year.

FLEX LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.79%. The ex-dividend date was Thursday, August 29th. FLEX LNG’s dividend payout ratio (DPR) is 118.11%.

FLEX LNG Company Profile

(Get Free Report)

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.

Featured Stories