FLEX LNG Ltd. (NYSE:FLNG) Sees Significant Increase in Short Interest

FLEX LNG Ltd. (NYSE:FLNG) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,110,000 shares, an increase of 9.9% from the January 15th total of 1,920,000 shares. Approximately 7.0% of the shares of the stock are short sold. Based on an average daily volume of 438,300 shares, the short-interest ratio is presently 4.8 days.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “hold” rating and set a $23.00 price target on shares of FLEX LNG in a research note on Tuesday, February 4th.

Institutional Investors Weigh In On FLEX LNG

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC increased its stake in shares of FLEX LNG by 27.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company’s stock worth $59,000 after purchasing an additional 558 shares during the last quarter. Beck Capital Management LLC increased its stake in shares of FLEX LNG by 0.5% during the 3rd quarter. Beck Capital Management LLC now owns 111,891 shares of the company’s stock worth $2,847,000 after purchasing an additional 583 shares during the last quarter. Apollon Wealth Management LLC grew its stake in FLEX LNG by 6.3% in the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company’s stock valued at $231,000 after buying an additional 600 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in FLEX LNG by 3.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after buying an additional 666 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in FLEX LNG by 465.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $26,000 after buying an additional 941 shares during the last quarter.

FLEX LNG Price Performance

Shares of NYSE:FLNG traded up $0.13 during trading on Friday, reaching $24.85. The stock had a trading volume of 301,087 shares, compared to its average volume of 431,521. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.18. The stock has a market capitalization of $1.34 billion, a PE ratio of 11.40 and a beta of 0.70. The business’s 50-day moving average price is $24.08 and its 200 day moving average price is $25.05. FLEX LNG has a 52 week low of $20.85 and a 52 week high of $30.48.

FLEX LNG (NYSE:FLNG) last released its earnings results on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same quarter last year, the firm posted $0.70 earnings per share. As a group, equities analysts predict that FLEX LNG will post 1.9 earnings per share for the current year.

FLEX LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.00 annualized dividend and a yield of 12.07%. FLEX LNG’s dividend payout ratio (DPR) is presently 137.62%.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.