Short Interest in Flex LNG Ltd. (NYSE:FLNG) Rises By 18.7%

Flex LNG Ltd. (NYSE:FLNG) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 4,145,587 shares, a growth of 18.7% from the February 12th total of 3,492,415 shares. Currently, 7.7% of the company’s stock are short sold. Based on an average daily trading volume, of 634,295 shares, the days-to-cover ratio is presently 6.5 days. Based on an average daily trading volume, of 634,295 shares, the days-to-cover ratio is presently 6.5 days. Currently, 7.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Community Trust NA purchased a new stake in Flex LNG in the fourth quarter valued at about $31,000. Financial Life Planners purchased a new stake in shares of Flex LNG during the third quarter worth about $35,000. Kestra Advisory Services LLC acquired a new position in shares of Flex LNG during the fourth quarter valued at about $43,000. EverSource Wealth Advisors LLC increased its holdings in shares of Flex LNG by 364.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock valued at $45,000 after acquiring an additional 1,408 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Flex LNG in the 3rd quarter worth approximately $49,000.

Analyst Ratings Changes

FLNG has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Flex LNG in a report on Monday, December 22nd. Wall Street Zen cut shares of Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Flex LNG presently has an average rating of “Hold” and a consensus target price of $23.00.

Flex LNG Stock Up 0.1%

Flex LNG stock traded up $0.02 during trading hours on Tuesday, reaching $29.19. The stock had a trading volume of 382,164 shares, compared to its average volume of 851,707. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 21.00 and a beta of 0.31. The business’s 50 day moving average price is $27.24 and its 200-day moving average price is $26.10. Flex LNG has a 52 week low of $19.46 and a 52 week high of $30.85. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.04 and a quick ratio of 2.98.

Flex LNG (NYSE:FLNG) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.18). Flex LNG had a net margin of 21.52% and a return on equity of 13.46%. The firm had revenue of $87.54 million during the quarter, compared to the consensus estimate of $86.75 million. Sell-side analysts anticipate that Flex LNG will post 1.9 EPS for the current year.

Flex LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 27th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.3%. Flex LNG’s dividend payout ratio is presently 215.83%.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.