Golar LNG Limited (NASDAQ:GLNG)’s stock price dropped 6.4% on Wednesday . The company traded as low as $12.56 and last traded at $12.65, approximately 2,068,245 shares changed hands during trading. An increase of 103% from the average daily volume of 1,019,789 shares. The stock had previously closed at $13.52.

GLNG has been the subject of a number of analyst reports. Zacks Investment Research raised Golar LNG from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Monday, April 29th. BidaskClub lowered Golar LNG from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 8th. Cowen reaffirmed an “outperform” rating and issued a $22.00 price target (down previously from $30.00) on shares of Golar LNG in a research note on Tuesday, June 25th. Finally, ValuEngine raised Golar LNG from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. Golar LNG presently has a consensus rating of “Buy” and a consensus price target of $32.11.

The business has a 50 day simple moving average of $16.80. The firm has a market capitalization of $1.36 billion, a P/E ratio of -33.43 and a beta of 0.66. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Tuesday, May 21st. The shipping company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). The firm had revenue of $97.79 million during the quarter, compared to the consensus estimate of $88.87 million. Golar LNG had a negative return on equity of 2.93% and a negative net margin of 52.68%. As a group, research analysts predict that Golar LNG Limited will post -0.63 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Massey Quick Simon & CO. LLC bought a new position in Golar LNG in the first quarter worth $42,000. Capital Bank & Trust Co bought a new position in Golar LNG in the second quarter worth $43,000. Resources Investment Advisors LLC. bought a new position in Golar LNG in the second quarter worth $55,000. Nisa Investment Advisors LLC raised its holdings in Golar LNG by 674.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,445 shares of the shipping company’s stock worth $64,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new position in Golar LNG in the fourth quarter worth $94,000. Institutional investors and hedge funds own 72.15% of the company’s stock.

Golar LNG Company Profile (NASDAQ:GLNG)

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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