Wall Street Zen Downgrades Flex LNG (NYSE:FLNG) to Sell

Flex LNG (NYSE:FLNG) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Flex LNG in a research report on Monday, December 22nd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Flex LNG presently has an average rating of “Hold” and an average target price of $23.00.

Flex LNG Stock Up 1.2%

Shares of FLNG opened at $26.40 on Friday. The company has a current ratio of 3.10, a quick ratio of 3.05 and a debt-to-equity ratio of 2.39. The firm has a market cap of $1.42 billion, a P/E ratio of 14.43 and a beta of 0.32. The stock’s 50 day moving average is $25.72 and its two-hundred day moving average is $25.66. Flex LNG has a 12 month low of $19.46 and a 12 month high of $27.67.

Flex LNG (NYSE:FLNG) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $85.68 million during the quarter, compared to analyst estimates of $83.52 million. Flex LNG had a net margin of 28.06% and a return on equity of 14.04%. Analysts predict that Flex LNG will post 1.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flex LNG

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gilman Hill Asset Management LLC boosted its holdings in Flex LNG by 21.4% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 381,427 shares of the company’s stock valued at $9,612,000 after purchasing an additional 67,139 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Flex LNG during the 2nd quarter worth approximately $545,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Flex LNG during the 2nd quarter valued at approximately $2,936,000. Creative Planning lifted its holdings in Flex LNG by 154.7% in the second quarter. Creative Planning now owns 65,747 shares of the company’s stock valued at $1,445,000 after acquiring an additional 39,931 shares during the last quarter. Finally, DNB Asset Management AS purchased a new position in Flex LNG in the second quarter worth approximately $369,000.

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.