Flex LNG Ltd. (NYSE:FLNG) Sees Large Growth in Short Interest

Flex LNG Ltd. (NYSE:FLNG) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 4,145,587 shares, an increase 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 trading volume of 634,295 shares, the days-to-cover ratio is currently 6.5 days. Based on an average trading volume of 634,295 shares, the days-to-cover ratio is currently 6.5 days. Currently, 7.7% of the company’s shares are short sold.

Flex LNG Trading Up 2.7%

NYSE:FLNG traded up $0.78 on Wednesday, reaching $29.95. The company’s stock had a trading volume of 492,057 shares, compared to its average volume of 559,102. Flex LNG has a 1-year low of $19.46 and a 1-year high of $30.85. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.98 and a current ratio of 3.04. The firm has a market cap of $1.61 billion, a PE ratio of 21.54 and a beta of 0.31. The business’s 50-day moving average price is $27.24 and its two-hundred day moving average price is $26.10.

Flex LNG (NYSE:FLNG) last released its quarterly earnings results 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 return on equity of 13.46% and a net margin of 21.52%.The business had revenue of $87.54 million for the quarter, compared to analyst estimates of $86.75 million. Equities research analysts anticipate that Flex LNG will post 1.9 earnings per share for the current fiscal year.

Flex LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 27th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 10.0%. The ex-dividend date was Friday, February 27th. Flex LNG’s dividend payout ratio (DPR) is 215.83%.

Wall Street Analysts Forecast Growth

FLNG has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Flex LNG from a “hold” rating to a “sell” rating in a research note 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 analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FLNG. First Community Trust NA acquired a new position in Flex LNG during the fourth quarter worth $31,000. Financial Life Planners bought a new position in Flex LNG in the third quarter valued at $35,000. Kestra Advisory Services LLC bought a new position in Flex LNG in the fourth quarter valued at $43,000. EverSource Wealth Advisors LLC increased its stake in Flex LNG by 364.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock valued at $45,000 after buying an additional 1,408 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Flex LNG in the 3rd quarter valued at $49,000.

About Flex LNG

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.