Golar LNG Limited (NASDAQ:GLNG) Sees Significant Growth in Short Interest

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Golar LNG Limited (NASDAQ:GLNG) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 8,741,600 shares, an increase of 7.6% from the May 30th total of 8,120,600 shares. Based on an average daily volume of 990,000 shares, the days-to-cover ratio is presently 8.8 days. Approximately 9.5% of the shares of the stock are short sold.

Shares of NASDAQ GLNG traded up $0.13 during midday trading on Tuesday, hitting $18.30. The stock had a trading volume of 4,968 shares, compared to its average volume of 861,254. The stock has a 50-day simple moving average of $17.73. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -47.84 and a beta of 0.65. Golar LNG has a fifty-two week low of $16.17 and a fifty-two week high of $30.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Tuesday, May 21st. The shipping company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.11). The firm had revenue of $97.79 million during the quarter, compared to analyst estimates of $88.87 million. Golar LNG had a negative net margin of 52.68% and a negative return on equity of 2.93%. On average, sell-side analysts forecast that Golar LNG will post -0.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Thursday, June 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $0.60 annualized dividend and a dividend yield of 3.28%. Golar LNG’s dividend payout ratio (DPR) is currently -157.89%.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Monday, April 29th. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Cowen reiterated a “buy” rating and issued a $50.00 price objective on shares of Tricida in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Golar LNG has an average rating of “Buy” and a consensus price target of $32.40.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC acquired a new stake in shares of Golar LNG during the first quarter worth $42,000. Nisa Investment Advisors LLC grew its stake in shares of Golar LNG by 674.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,445 shares of the shipping company’s stock worth $64,000 after purchasing an additional 3,000 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Golar LNG during the fourth quarter worth $78,000. Macquarie Group Ltd. acquired a new stake in shares of Golar LNG during the fourth quarter worth $94,000. Finally, Osborn Williams & Donohoe LLC acquired a new stake in shares of Golar LNG during the first quarter worth $185,000. 72.30% of the stock is owned by institutional investors.

Golar LNG Company Profile

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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