FLEX LNG (NYSE:FLNG) Upgraded at Fearnley Fonds

FLEX LNG (NYSE:FLNG) was upgraded by Fearnley Fonds to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

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

FLEX LNG Stock Performance

Shares of FLNG stock opened at $23.77 on Monday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The stock has a market cap of $1.28 billion, a PE ratio of 10.91 and a beta of 0.70. The stock has a 50-day moving average of $24.15 and a 200-day moving average of $25.02. FLEX LNG has a one year low of $20.85 and a one year high of $30.48.

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

Institutional Trading of FLEX LNG

Several hedge funds have recently bought and sold shares of the stock. State Street Corp raised its holdings in FLEX LNG by 2.3% during the 3rd quarter. State Street Corp now owns 515,911 shares of the company’s stock worth $13,125,000 after buying an additional 11,695 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in FLEX LNG by 10.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,014 shares of the company’s stock worth $9,630,000 after buying an additional 39,572 shares during the period. Geode Capital Management LLC raised its holdings in FLEX LNG by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 360,588 shares of the company’s stock worth $8,272,000 after buying an additional 3,411 shares during the period. Janus Henderson Group PLC raised its holdings in FLEX LNG by 17.7% during the 4th quarter. Janus Henderson Group PLC now owns 299,864 shares of the company’s stock worth $6,717,000 after buying an additional 45,037 shares during the period. Finally, Denali Advisors LLC raised its holdings in FLEX LNG by 19.8% during the 4th quarter. Denali Advisors LLC now owns 236,900 shares of the company’s stock worth $5,434,000 after buying an additional 39,100 shares during the period.

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.