Short Interest in FLEX LNG Ltd. (NYSE:FLNG) Increases By 5.3%

FLEX LNG Ltd. (NYSE:FLNG) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 1,990,000 shares, a growth of 5.3% from the September 15th total of 1,890,000 shares. Based on an average trading volume of 248,000 shares, the short-interest ratio is presently 8.0 days. Approximately 6.6% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Jefferies Financial Group upgraded FLEX LNG from an “underperform” rating to a “hold” rating and set a $24.00 price target on the stock in a research report on Wednesday, August 14th.

FLEX LNG Stock Up 0.0 %

Shares of FLEX LNG stock opened at $25.46 on Friday. FLEX LNG has a 1 year low of $24.16 and a 1 year high of $32.23. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 10.02 and a beta of 0.71. The company has a 50-day moving average of $26.24 and a 200 day moving average of $26.73. The company has a debt-to-equity ratio of 2.01, a current ratio of 2.57 and a quick ratio of 2.54.

FLEX LNG (NYSE:FLNG) last announced its 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 net margin of 32.60% and a return on equity of 16.79%. The business had revenue of $84.70 million during the quarter. As a group, sell-side analysts anticipate that FLEX LNG will post 2.37 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 11.78%. The ex-dividend date was Thursday, August 29th. FLEX LNG’s dividend payout ratio (DPR) is 118.11%.

Institutional Investors Weigh In On FLEX LNG

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of FLEX LNG in the 4th quarter worth about $200,000. Gilman Hill Asset Management LLC increased its stake in FLEX LNG by 74.6% during the 1st quarter. Gilman Hill Asset Management LLC now owns 286,867 shares of the company’s stock valued at $7,295,000 after purchasing an additional 122,551 shares in the last quarter. Denali Advisors LLC increased its stake in FLEX LNG by 613.3% during the 1st quarter. Denali Advisors LLC now owns 80,600 shares of the company’s stock valued at $2,050,000 after purchasing an additional 69,300 shares in the last quarter. Naples Global Advisors LLC raised its holdings in FLEX LNG by 31.3% in the first quarter. Naples Global Advisors LLC now owns 64,500 shares of the company’s stock worth $1,640,000 after buying an additional 15,390 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of FLEX LNG by 9.9% in the first quarter. BNP Paribas Financial Markets now owns 20,137 shares of the company’s stock worth $512,000 after buying an additional 1,813 shares in the last quarter.

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.