FLEX LNG’s (FLNG) Hold Rating Reiterated at Jefferies Financial Group

FLEX LNG (NYSE:FLNG)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Financial Group in a research report issued on Tuesday,Benzinga reports. They presently have a $24.00 price target on the stock. Jefferies Financial Group’s price objective would indicate a potential downside of 3.65% from the company’s current price.

FLEX LNG Trading Up 4.1 %

Shares of NYSE FLNG traded up $0.98 during midday trading on Tuesday, reaching $24.91. The company’s stock had a trading volume of 386,258 shares, compared to its average volume of 298,630. The company has a debt-to-equity ratio of 2.01, a current ratio of 2.57 and a quick ratio of 2.54. The firm has a 50 day moving average price of $25.42 and a 200-day moving average price of $26.58. FLEX LNG has a 12-month low of $22.80 and a 12-month high of $31.83.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. FLEX LNG had a return on equity of 16.79% and a net margin of 32.60%. The business had revenue of $84.70 million for the quarter. As a group, analysts anticipate that FLEX LNG will post 2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLNG. HHM Wealth Advisors LLC purchased a new position in FLEX LNG in the second quarter valued at approximately $47,000. GAMMA Investing LLC grew its stake in shares of FLEX LNG by 6,254.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after acquiring an additional 1,939 shares during the period. Rothschild Investment LLC purchased a new stake in FLEX LNG during the second quarter valued at about $81,000. Redwood Wealth Management Group LLC bought a new position in FLEX LNG during the second quarter worth about $98,000. Finally, Creative Planning purchased a new position in shares of FLEX LNG in the third quarter worth about $206,000.

About FLEX LNG

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.