Flex LNG (NYSE:FLNG) Raised to “Hold” at Wall Street Zen

Flex LNG (NYSE:FLNG) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued reports about the company. Pareto Securities lowered Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday, May 13th. Kepler Capital Markets set a $25.00 price objective on shares of Flex LNG and gave the company a “reduce” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Flex LNG in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $25.00.

Flex LNG Trading Up 0.1%

Shares of FLNG opened at $32.06 on Friday. Flex LNG has a fifty-two week low of $24.00 and a fifty-two week high of $33.40. The company has a market capitalization of $1.73 billion, a PE ratio of 16.87 and a beta of 0.20. The stock has a fifty day moving average of $30.42 and a two-hundred day moving average of $30.06. The company has a debt-to-equity ratio of 2.40, a quick ratio of 2.64 and a current ratio of 2.69.

Flex LNG (NYSE:FLNG) last posted its quarterly earnings data on Wednesday, August 19th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.17. The business had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $93.53 million. Flex LNG had a return on equity of 14.88% and a net margin of 28.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC purchased a new stake in Flex LNG during the first quarter valued at about $26,000. Main Street Group LTD acquired a new stake in Flex LNG during the first quarter worth about $30,000. Financial Life Planners acquired a new stake in Flex LNG during the first quarter worth about $43,000. Kestra Advisory Services LLC purchased a new position in shares of Flex LNG in the 4th quarter worth about $43,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Flex LNG by 364.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock worth $45,000 after purchasing an additional 1,408 shares during the period.

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.