Flex LNG (NYSE:FLNG) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Flex LNG (NYSE:FLNG) from a hold rating to a sell rating in a research note published on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Flex LNG in a research report on Monday, December 22nd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Flex LNG currently has a consensus rating of “Hold” and a consensus price target of $23.00.

Flex LNG Stock Performance

Shares of NYSE:FLNG opened at $26.43 on Friday. The firm’s 50 day simple moving average is $25.75 and its 200-day simple moving average is $25.68. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.05 and a current ratio of 3.10. Flex LNG has a one year low of $19.46 and a one year high of $27.67. The firm has a market cap of $1.42 billion, a PE ratio of 14.44 and a beta of 0.32.

Flex LNG (NYSE:FLNG) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). The firm had revenue of $85.68 million during the quarter, compared to the consensus estimate of $83.52 million. Flex LNG had a return on equity of 14.04% and a net margin of 28.06%. As a group, equities analysts predict that Flex LNG will post 1.9 EPS for the current year.

Institutional Trading of Flex LNG

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Flex LNG by 364.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock worth $45,000 after buying an additional 1,408 shares during the last quarter. Trek Financial LLC increased its position in shares of Flex LNG by 10.9% in the 4th quarter. Trek Financial LLC now owns 391,676 shares of the company’s stock valued at $9,772,000 after acquiring an additional 38,438 shares during the period. Naples Global Advisors LLC raised its stake in Flex LNG by 1.5% in the 4th quarter. Naples Global Advisors LLC now owns 75,011 shares of the company’s stock worth $1,872,000 after acquiring an additional 1,121 shares during the last quarter. Amplify Investments LLC lifted its position in Flex LNG by 21.4% during the 4th quarter. Amplify Investments LLC now owns 3,417 shares of the company’s stock worth $85,000 after acquiring an additional 603 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new stake in Flex LNG during the 4th quarter valued at about $1,048,000.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.