FLEX LNG Ltd. (NYSE:FLNG) Short Interest Update

FLEX LNG Ltd. (NYSE:FLNG) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,270,000 shares, a growth of 13.5% from the August 15th total of 2,000,000 shares. Currently, 7.5% of the company’s shares are short sold. Based on an average daily trading volume, of 262,100 shares, the days-to-cover ratio is presently 8.7 days.

FLEX LNG Price Performance

FLEX LNG stock opened at $26.60 on Wednesday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 10.47 and a beta of 0.71. FLEX LNG has a 52-week low of $24.16 and a 52-week high of $32.23. The stock’s 50 day moving average price is $26.44 and its two-hundred day moving average price is $26.63. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.54 and a current ratio of 2.57.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The firm had revenue of $84.70 million for the quarter. FLEX LNG had a return on equity of 16.79% and a net margin of 32.60%. On average, equities analysts predict that FLEX LNG will post 2.37 earnings per share for the current year.

FLEX LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.28%. The ex-dividend date of this dividend was Thursday, August 29th. FLEX LNG’s dividend payout ratio is currently 118.11%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised FLEX LNG from an “underperform” rating to a “hold” rating and set a $24.00 price objective for the company in a research note on Wednesday, August 14th.

Hedge Funds Weigh In On FLEX LNG

Large investors have recently modified their holdings of the company. HHM Wealth Advisors LLC bought a new position in FLEX LNG during the 2nd quarter valued at $47,000. Rothschild Investment LLC bought a new position in FLEX LNG during the 2nd quarter valued at $81,000. Redwood Wealth Management Group LLC bought a new position in FLEX LNG during the 2nd quarter valued at $98,000. Virtu Financial LLC bought a new position in FLEX LNG during the 4th quarter valued at $200,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in FLEX LNG by 13.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,541 shares of the company’s stock valued at $218,000 after acquiring an additional 993 shares in the last quarter.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.