FLEX LNG Ltd. (NYSE:FLNG) Short Interest Down 7.0% in March

FLEX LNG Ltd. (NYSE:FLNGGet Free Report) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,470,000 shares, a decrease of 7.0% from the February 29th total of 1,580,000 shares. Based on an average daily trading volume, of 375,400 shares, the short-interest ratio is currently 3.9 days. Currently, 4.9% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut FLEX LNG from a “hold” rating to an “underperform” rating and dropped their target price for the company from $32.00 to $23.00 in a research report on Tuesday, February 27th.

Check Out Our Latest Analysis on FLEX LNG

FLEX LNG Stock Up 0.8 %

Shares of FLEX LNG stock opened at $25.43 on Monday. FLEX LNG has a one year low of $24.16 and a one year high of $35.85. The company has a current ratio of 2.89, a quick ratio of 2.86 and a debt-to-equity ratio of 2.02. The company has a 50-day simple moving average of $26.60 and a two-hundred day simple moving average of $28.84.

FLEX LNG (NYSE:FLNGGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $97.23 million during the quarter, compared to analysts’ expectations of $98.38 million. FLEX LNG had a net margin of 32.35% and a return on equity of 15.86%. During the same quarter in the prior year, the company posted $1.02 earnings per share. On average, equities research analysts forecast that FLEX LNG will post 2.55 earnings per share for the current fiscal year.

FLEX LNG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.75 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $3.00 annualized dividend and a yield of 11.80%. FLEX LNG’s dividend payout ratio (DPR) is 134.53%.

Institutional Investors Weigh In On FLEX LNG

Several institutional investors have recently bought and sold shares of FLNG. Advisor Group Holdings Inc. boosted its stake in FLEX LNG by 72.7% in the first quarter. Advisor Group Holdings Inc. now owns 16,230 shares of the company’s stock valued at $270,000 after acquiring an additional 6,830 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of FLEX LNG during the first quarter worth $1,985,000. Mackenzie Financial Corp acquired a new stake in shares of FLEX LNG during the first quarter worth $794,000. Invesco Ltd. acquired a new stake in shares of FLEX LNG during the first quarter worth $476,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of FLEX LNG by 147.7% during the first quarter. Goldman Sachs Group Inc. now owns 338,553 shares of the company’s stock worth $9,656,000 after buying an additional 201,876 shares during the period.

FLEX LNG Company Profile

(Get Free Report)

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.

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