SFL Corporation Ltd. (NYSE:SFL) Short Interest Down 26.7% in December

SFL Corporation Ltd. (NYSE:SFL) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 3,246,734 shares, a decrease of 26.7% from the December 15th total of 4,426,862 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,098,070 shares, the days-to-cover ratio is currently 3.0 days. Based on an average daily trading volume, of 1,098,070 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.2% of the shares of the company are short sold.

SFL Price Performance

SFL traded down $0.21 on Friday, reaching $8.26. The company had a trading volume of 1,279,556 shares, compared to its average volume of 1,076,724. SFL has a 52-week low of $6.73 and a 52-week high of $11.13. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -826.00 and a beta of 0.47. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.42 and a current ratio of 0.42. The business has a 50 day simple moving average of $8.07 and a 200 day simple moving average of $8.15.

SFL (NYSE:SFL) last released its quarterly earnings results on Wednesday, November 12th. The shipping company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $178.21 million during the quarter, compared to analysts’ expectations of $172.45 million. SFL had a negative net margin of 0.20% and a positive return on equity of 3.05%. The business’s quarterly revenue was down 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS.

SFL Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Friday, December 12th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date of this dividend was Friday, December 12th. SFL’s dividend payout ratio is currently -8,000.00%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SFL in a research report on Monday, December 29th. Wall Street Zen lowered shares of SFL from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Finally, BTIG Research raised their price target on shares of SFL from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Institutional Investors Weigh In On SFL

Several hedge funds have recently added to or reduced their stakes in SFL. SG Americas Securities LLC raised its holdings in shares of SFL by 6.4% during the 4th quarter. SG Americas Securities LLC now owns 30,227 shares of the shipping company’s stock valued at $236,000 after buying an additional 1,810 shares in the last quarter. Maridea Wealth Management LLC bought a new position in SFL during the fourth quarter valued at approximately $171,000. Fermata Advisors LLC purchased a new position in shares of SFL during the fourth quarter worth approximately $177,000. Tudor Investment Corp ET AL bought a new stake in shares of SFL in the 3rd quarter worth approximately $668,000. Finally, Triumph Capital Management purchased a new stake in shares of SFL in the 3rd quarter valued at $32,000. Institutional investors own 28.59% of the company’s stock.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.