Golar LNG Ltd. (GLNG) Sees Strong Trading Volume
Golar LNG Ltd. (NASDAQ:GLNG) saw unusually-high trading volume on Tuesday . Approximately 1,324,235 shares changed hands during mid-day 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 topic of a number of analyst reports. Bank of America Corp. raised Golar LNG from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Monday, August 1st. Jefferies Group reaffirmed a “buy” rating on shares of Golar LNG in a report on Wednesday, June 1st. Sanford C. Bernstein lowered Golar LNG from a “buy” rating to a “sell” rating and lowered their price objective for the company from $38.00 to $10.00 in a report on Thursday, June 30th. DNB Markets lowered Golar LNG from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Golar LNG in a report on Wednesday, June 1st. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $32.56.
The stock’s 50 day moving average price is $17.81 and its 200-day moving average price is $17.77. The company’s market capitalization is $1.89 billion.
A hedge fund recently raised its stake in Golar LNG stock. BNP Paribas Arbitrage SA raised its stake in Golar LNG Ltd. (NASDAQ:GLNG) by 5,703.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 886,898 shares of the company’s stock after buying an additional 871,617 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.99% of Golar LNG worth $14,004,000 as of its most recent SEC filing.
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).
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