FLEX LNG (NYSE:FLNG) Rating Increased to Hold at Wall Street Zen

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

Other equities analysts have also recently issued research reports about the company. Fearnley Fonds raised FLEX LNG to a “hold” rating in a report on Monday, February 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 target price on shares of FLEX LNG in a research report on Tuesday, February 4th.

FLEX LNG Trading Up 1.2%

Shares of FLEX LNG stock opened at $22.88 on Friday. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11. FLEX LNG has a 12-month low of $19.46 and a 12-month high of $29.86. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.50 and a beta of 0.45. The firm’s 50-day moving average price is $22.99 and its two-hundred day moving average price is $23.56.

FLEX LNG (NYSE:FLNG) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. The company had revenue of $88.40 million during the quarter, compared to the consensus estimate of $87.70 million. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. On average, analysts forecast that FLEX LNG will post 1.9 earnings per share for the current fiscal year.

Institutional Trading of FLEX LNG

A number of hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its stake in shares of FLEX LNG by 41.8% in the 4th quarter. New York State Common Retirement Fund now owns 98,451 shares of the company’s stock valued at $2,258,000 after acquiring an additional 29,000 shares during the last quarter. Raymond James Financial Inc. bought a new stake in FLEX LNG during the 4th quarter worth $3,890,000. Atria Wealth Solutions Inc. increased its holdings in FLEX LNG by 3.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock worth $516,000 after purchasing an additional 666 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in FLEX LNG by 1,894.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company’s stock worth $241,000 after purchasing an additional 9,967 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in FLEX LNG by 21.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,226 shares of the company’s stock valued at $281,000 after purchasing an additional 2,123 shares during the last quarter.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.