FLEX LNG Ltd. (NYSE:FLNG) Short Interest Up 5.3% in September
by Scott Moore · The Cerbat GemFLEX 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
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.
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