FLEX LNG Ltd. (NYSE:FLNG) Short Interest Up 16.4% in May

FLEX LNG Ltd. (NYSE:FLNGGet Free Report) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,630,000 shares, an increase of 16.4% from the April 30th total of 1,400,000 shares. Based on an average daily volume of 298,500 shares, the days-to-cover ratio is currently 5.5 days. Currently, 5.4% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upped their price target on shares of FLEX LNG from $23.00 to $25.00 and gave the company an “underperform” rating in a research report on Thursday, May 23rd.

Check Out Our Latest Stock Analysis on FLEX LNG

FLEX LNG Trading Down 0.4 %

FLNG stock traded down $0.11 during mid-day trading on Friday, reaching $28.74. 296,355 shares of the company traded hands, compared to its average volume of 290,630. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.80 and a quick ratio of 2.76. The firm’s 50 day moving average price is $26.91 and its 200 day moving average price is $27.84. FLEX LNG has a fifty-two week low of $24.16 and a fifty-two week high of $33.33.

FLEX LNG (NYSE:FLNGGet Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.15. The business had revenue of $90.24 million during the quarter. FLEX LNG had a return on equity of 16.31% and a net margin of 37.08%. On average, analysts predict that FLEX LNG will post 2.27 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $3.00 annualized dividend and a dividend yield of 10.44%. FLEX LNG’s dividend payout ratio is currently 118.11%.

Institutional Trading of FLEX LNG

A number of institutional investors and hedge funds have recently modified their holdings of FLNG. Atria Wealth Solutions Inc. grew its stake in FLEX LNG by 24.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 23,757 shares of the company’s stock valued at $690,000 after purchasing an additional 4,601 shares during the period. SG Americas Securities LLC bought a new stake in FLEX LNG in the fourth quarter worth about $654,000. Spire Wealth Management grew its position in shares of FLEX LNG by 6.2% during the 3rd quarter. Spire Wealth Management now owns 17,385 shares of the company’s stock valued at $524,000 after acquiring an additional 1,008 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of FLEX LNG by 9.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 295,268 shares of the company’s stock worth $8,580,000 after purchasing an additional 26,521 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of FLEX LNG by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,211,713 shares of the company’s stock worth $36,545,000 after purchasing an additional 26,105 shares during the period.

About FLEX LNG

(Get Free Report)

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.

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