Short Interest in FLEX LNG Ltd. (NYSE:FLNG) Rises By 9.9%

FLEX LNG Ltd. (NYSE:FLNG) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,110,000 shares, a growth of 9.9% from the January 15th total of 1,920,000 shares. Currently, 7.0% of the company’s stock are sold short. Based on an average trading volume of 438,300 shares, the short-interest ratio is currently 4.8 days.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 target price on shares of FLEX LNG in a report on Tuesday, February 4th.

Hedge Funds Weigh In On FLEX LNG

Several institutional investors have recently bought and sold shares of FLNG. Steward Partners Investment Advisory LLC lifted its stake in FLEX LNG by 27.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company’s stock worth $59,000 after purchasing an additional 558 shares during the last quarter. Beck Capital Management LLC boosted its position in FLEX LNG by 0.5% during the third quarter. Beck Capital Management LLC now owns 111,891 shares of the company’s stock worth $2,847,000 after purchasing an additional 583 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of FLEX LNG by 6.3% in the fourth quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company’s stock valued at $231,000 after acquiring an additional 600 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of FLEX LNG by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after acquiring an additional 666 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in FLEX LNG by 465.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $26,000 after buying an additional 941 shares during the period.

FLEX LNG Trading Up 0.5 %

Shares of NYSE:FLNG opened at $24.85 on Tuesday. FLEX LNG has a 12-month low of $20.85 and a 12-month high of $30.48. The company has a market capitalization of $1.34 billion, a PE ratio of 11.40 and a beta of 0.70. The business has a 50 day moving average of $24.13 and a two-hundred day moving average of $25.03. The company has a current ratio of 2.99, a quick ratio of 2.18 and a debt-to-equity ratio of 2.11.

FLEX LNG (NYSE:FLNG) last announced its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same quarter last year, the business posted $0.70 EPS. As a group, analysts forecast that FLEX LNG will post 1.9 EPS for the current year.

FLEX LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 12.07%. The ex-dividend date is Thursday, February 20th. FLEX LNG’s dividend payout ratio is currently 137.62%.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.