Flex LNG (NYSE:FLNG) Lowered to “Strong Sell” Rating by Kepler Capital Markets

Flex LNG (NYSE:FLNG) was downgraded by research analysts at Kepler Capital Markets from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Other analysts have also issued reports about the stock. Pareto Securities lowered shares of Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a research note on Friday, April 10th. Finally, Wall Street Zen lowered shares of Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $24.00.

Flex LNG Price Performance

FLNG stock opened at $32.10 on Thursday. The company has a current ratio of 2.72, a quick ratio of 2.98 and a debt-to-equity ratio of 2.45. Flex LNG has a one year low of $21.72 and a one year high of $33.40. The firm has a market capitalization of $1.74 billion, a PE ratio of 22.93 and a beta of 0.20. The firm has a 50-day moving average of $30.68 and a two-hundred day moving average of $27.72.

Flex LNG (NYSE:FLNG) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Flex LNG had a net margin of 22.26% and a return on equity of 12.15%. The firm had revenue of $80.46 million for the quarter, compared to analysts’ expectations of $80.35 million.

Institutional Trading of Flex LNG

A number of hedge funds have recently made changes to their positions in FLNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flex LNG in the third quarter worth approximately $28,392,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Flex LNG in the third quarter worth approximately $9,764,000. Dimensional Fund Advisors LP purchased a new stake in shares of Flex LNG in the third quarter worth approximately $9,497,000. Renaissance Technologies LLC lifted its position in shares of Flex LNG by 42.5% in the first quarter. Renaissance Technologies LLC now owns 1,170,795 shares of the company’s stock worth $34,784,000 after purchasing an additional 349,191 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Flex LNG by 834.5% in the third quarter. Two Sigma Investments LP now owns 271,681 shares of the company’s stock worth $6,846,000 after purchasing an additional 242,608 shares in the last quarter.

About Flex LNG

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.