FLEX LNG (NYSE:FLNG) Given Hold Rating at Jefferies Financial Group

FLEX LNG (NYSE:FLNG)‘s stock had its “hold” rating restated by research analysts at Jefferies Financial Group in a report issued on Tuesday,Benzinga reports. They presently have a $24.00 price objective on the stock. Jefferies Financial Group’s price objective would indicate a potential downside of 3.65% from the company’s previous close.

FLEX LNG Price Performance

Shares of FLNG stock traded up $0.98 during trading hours on Tuesday, reaching $24.91. The stock had a trading volume of 386,258 shares, compared to its average volume of 298,630. The stock’s fifty day simple moving average is $25.42 and its 200 day simple moving average is $26.58. The company has a debt-to-equity ratio of 2.01, a current ratio of 2.57 and a quick ratio of 2.54. FLEX LNG has a 12 month low of $22.80 and a 12 month high of $31.83.

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

Institutional Trading of FLEX LNG

A number of hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new stake in FLEX LNG during the third quarter valued at about $210,000. Jennison Associates LLC bought a new position in shares of FLEX LNG during the 3rd quarter valued at about $1,460,000. Apollon Wealth Management LLC purchased a new position in shares of FLEX LNG during the 3rd quarter valued at about $240,000. Creative Planning bought a new stake in FLEX LNG in the 3rd quarter worth approximately $206,000. Finally, Cypress Wealth Services LLC purchased a new stake in FLEX LNG in the third quarter worth approximately $213,000.

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.