Flex LNG Ltd. (NYSE:FLNG) Short Interest Up 18.7% in February

Flex LNG Ltd. (NYSE:FLNG) was the target of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 4,145,587 shares, a growth of 18.7% from the February 12th total of 3,492,415 shares. Currently, 7.7% of the company’s shares are short sold. Based on an average daily trading volume, of 634,295 shares, the short-interest ratio is presently 6.5 days. Based on an average daily trading volume, of 634,295 shares, the short-interest ratio is presently 6.5 days. Currently, 7.7% of the company’s shares are short sold.

Flex LNG Stock Performance

Shares of NYSE:FLNG traded up $0.02 during midday trading on Tuesday, hitting $29.19. The stock had a trading volume of 382,164 shares, compared to its average volume of 851,707. Flex LNG has a 1 year low of $19.46 and a 1 year high of $30.85. The company has a current ratio of 3.04, a quick ratio of 2.98 and a debt-to-equity ratio of 2.42. The stock has a 50 day moving average price of $27.24 and a two-hundred day moving average price of $26.10. The company has a market capitalization of $1.57 billion, a PE ratio of 21.00 and a beta of 0.31.

Flex LNG (NYSE:FLNG) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.18). Flex LNG had a net margin of 21.52% and a return on equity of 13.46%. The firm had revenue of $87.54 million during the quarter, compared to analyst estimates of $86.75 million. As a group, equities analysts predict that Flex LNG will post 1.9 earnings per share for the current fiscal year.

Flex LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 27th were paid a $0.75 dividend. The ex-dividend date was Friday, February 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.3%. Flex LNG’s payout ratio is 215.83%.

Analysts Set New Price Targets

Several research analysts recently weighed in on FLNG shares. Wall Street Zen lowered Flex LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Flex LNG currently has a consensus rating of “Hold” and a consensus target price of $23.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in shares of Flex LNG by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,359 shares of the company’s stock worth $228,000 after purchasing an additional 416 shares in the last quarter. CWM LLC increased its holdings in shares of Flex LNG by 15.4% in the 4th quarter. CWM LLC now owns 3,607 shares of the company’s stock valued at $90,000 after purchasing an additional 481 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Flex LNG by 0.6% in the fourth quarter. Millennium Management LLC now owns 92,459 shares of the company’s stock valued at $2,307,000 after purchasing an additional 549 shares during the period. Amplify Investments LLC boosted its holdings in Flex LNG by 21.4% during the fourth quarter. Amplify Investments LLC now owns 3,417 shares of the company’s stock worth $85,000 after buying an additional 603 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Flex LNG by 20.3% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 3,885 shares of the company’s stock worth $98,000 after buying an additional 655 shares in the last quarter.

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.