Golar LNG (NASDAQ:GLNG) Trading 7.6% Higher

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Golar LNG Limited (NASDAQ:GLNG)’s share price traded up 7.6% during mid-day trading on Monday . The company traded as high as $7.40 and last traded at $7.38, 663,175 shares traded hands during trading. A decline of 61% from the average session volume of 1,684,624 shares. The stock had previously closed at $6.86.

A number of equities research analysts have recently issued reports on the company. DNB Markets cut Golar LNG from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research note on Monday, March 9th. B. Riley dropped their price target on Golar LNG from $21.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Cowen dropped their price target on Golar LNG from $15.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Zacks Investment Research cut Golar LNG from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a research note on Wednesday, June 3rd. Finally, BidaskClub cut Golar LNG from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $16.55.

The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.82. The firm has a 50-day simple moving average of $7.45 and a two-hundred day simple moving average of $9.46.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, May 28th. The shipping company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.23). The firm had revenue of $117.73 million for the quarter, compared to the consensus estimate of $108.58 million. Golar LNG had a negative return on equity of 3.77% and a negative net margin of 60.05%. On average, sell-side analysts forecast that Golar LNG Limited will post -0.03 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of GLNG. Banque Cantonale Vaudoise acquired a new stake in shares of Golar LNG during the 4th quarter worth $42,000. Tower Research Capital LLC TRC grew its holdings in shares of Golar LNG by 271.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,227 shares of the shipping company’s stock worth $46,000 after purchasing an additional 2,359 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Golar LNG by 33.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,000 shares of the shipping company’s stock worth $109,000 after purchasing an additional 2,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Golar LNG by 19.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 20,199 shares of the shipping company’s stock worth $159,000 after purchasing an additional 3,323 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Golar LNG by 19.0% during the 4th quarter. ProShare Advisors LLC now owns 12,848 shares of the shipping company’s stock worth $183,000 after purchasing an additional 2,052 shares in the last quarter. Hedge funds and other institutional investors own 61.43% of the company’s stock.

Golar LNG Company Profile (NASDAQ:GLNG)

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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