Kepler Capital Markets Downgrades Flex LNG (NYSE:FLNG) to Strong Sell

Flex LNG (NYSE:FLNG) was downgraded by investment analysts at Kepler Capital Markets from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Several other analysts also recently weighed in on FLNG. Wall Street Zen downgraded Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Pareto Securities downgraded Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Flex LNG in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $24.00.

Flex LNG Stock Performance

Flex LNG stock opened at $32.10 on Thursday. The company has a quick ratio of 2.98, a current ratio of 2.72 and a debt-to-equity ratio of 2.45. The company has a market capitalization of $1.74 billion, a P/E ratio of 22.93 and a beta of 0.20. The stock’s 50 day moving average is $30.68 and its 200 day moving average is $27.72. Flex LNG has a twelve month low of $21.72 and a twelve month high of $33.40.

Flex LNG (NYSE:FLNG) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). The company had revenue of $80.46 million during the quarter, compared to analysts’ expectations of $80.35 million. Flex LNG had a return on equity of 12.15% and a net margin of 22.26%.

Institutional Trading of Flex LNG

Several institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in Flex LNG by 42.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,170,795 shares of the company’s stock valued at $34,784,000 after purchasing an additional 349,191 shares during the last quarter. Sei Investments Co. purchased a new stake in Flex LNG during the 1st quarter valued at $339,000. Lido Advisors LLC purchased a new stake in Flex LNG during the 1st quarter valued at $482,000. PNC Financial Services Group Inc. boosted its stake in Flex LNG by 120.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,180 shares of the company’s stock valued at $184,000 after purchasing an additional 3,382 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS purchased a new stake in Flex LNG during the 1st quarter valued at $101,000.

Flex LNG Company Profile

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.