Golar LNG Ltd. (GLNG) Sees Large Volume Increase
Golar LNG Ltd. (NASDAQ:GLNG) shares saw unusually-high trading volume on Tuesday . Approximately 1,324,235 shares traded hands during trading, a decline of 8% from the previous session’s volume of 1,437,042 shares.The stock last traded at $20.50 and had previously closed at $20.04.
GLNG has been the subject of several research analyst reports. Zacks Investment Research upgraded Golar LNG from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. DNB Markets lowered Golar LNG from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Stifel Nicolaus restated a “buy” rating on shares of Golar LNG in a research note on Saturday, April 30th. Credit Suisse Group AG upgraded Golar LNG from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $20.00 to $30.00 in a research note on Monday, May 9th. Finally, Nordea Equity Research upgraded Golar LNG from a “hold” rating to a “buy” rating in a research note on Wednesday, June 1st. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $32.56.
The company’s 50-day moving average price is $17.68 and its 200 day moving average price is $17.75. The firm’s market capitalization is $1.92 billion.
A hedge fund recently bought a new stake in Golar LNG stock. Trexquant Investment LP acquired a new position in Golar LNG Ltd. (NASDAQ:GLNG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,862 shares of the company’s stock, valued at approximately $1,924,000. Trexquant Investment LP owned about 0.14% of Golar LNG at the end of the most recent quarter.
Golar LNG Limited (Golar) is the owner and operator of liquefied natural gas (LNG) carriers and floating storage regasification units (FSRUs). As of March 31, 2010, Golar had a fleet of 13 vessels, 10 LNG carriers, three FSRUs and a 50% interest in a further LNG carrier. On June 22, 2009, the Company formed a wholly owned subsidiary, Golar LNG Energy Limited (Golar Energy).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.