Flex LNG (NYSE:FLNG) Lowered to “Strong Sell” Rating by Kepler Capital Markets

Flex LNG (NYSE:FLNG) was downgraded by equities research analysts at Kepler Capital Markets from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on FLNG. Wall Street Zen lowered shares of Flex LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a research report on Friday, April 10th. Finally, Pareto Securities downgraded Flex LNG from a “buy” rating to a “sell” rating in a report on Wednesday. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Flex LNG presently has an average rating of “Reduce” and a consensus target price of $24.00.

Flex LNG Price Performance

Shares of FLNG opened at $32.10 on Thursday. The firm has a market cap of $1.74 billion, a PE ratio of 22.93 and a beta of 0.20. The firm’s 50 day moving average price is $30.68 and its 200 day moving average price is $27.72. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.98 and a current ratio of 2.72. Flex LNG has a twelve month low of $21.72 and a twelve month high of $33.40.

Flex LNG (NYSE:FLNG) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). The business had revenue of $80.46 million for the quarter, compared to the consensus estimate of $80.35 million. Flex LNG had a net margin of 22.26% and a return on equity of 12.15%.

Hedge Funds Weigh In On Flex LNG

Institutional investors have recently modified their holdings of the company. Main Street Group LTD bought a new position in shares of Flex LNG in the first quarter valued at approximately $30,000. First Community Trust NA acquired a new stake in shares of Flex LNG in the fourth quarter worth $31,000. Financial Life Planners acquired a new stake in shares of Flex LNG in the third quarter worth $35,000. Kestra Advisory Services LLC acquired a new stake in shares of Flex LNG in the fourth quarter worth $43,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Flex LNG by 364.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock worth $45,000 after acquiring an additional 1,408 shares during the last quarter.

About Flex LNG

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.