FLEX LNG (NYSE:FLNG) Reaches New 1-Year Low – Time to Sell?

FLEX LNG Ltd. (NYSE:FLNG)’s stock price hit a new 52-week low on Friday . The company traded as low as $20.73 and last traded at $20.56, with a volume of 26738 shares traded. The stock had previously closed at $21.54.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FLNG shares. Fearnley Fonds upgraded shares of FLEX LNG to a “hold” rating in a research note on Monday, February 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 target price on shares of FLEX LNG in a research report on Tuesday, February 4th.

FLEX LNG Stock Performance

The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. The business has a 50 day moving average price of $23.34 and a two-hundred day moving average price of $24.13. The company has a market cap of $1.10 billion, a P/E ratio of 9.37 and a beta of 0.42.

FLEX LNG (NYSE:FLNG) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same period last year, the firm posted $0.70 earnings per share. On average, sell-side analysts anticipate that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were paid a $0.75 dividend. The ex-dividend date was Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 14.69%. FLEX LNG’s dividend payout ratio is currently 137.61%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position 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 valued at $59,000 after purchasing an additional 558 shares during the period. Apollon Wealth Management LLC boosted its position in shares of FLEX LNG by 6.3% during the fourth quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company’s stock worth $231,000 after acquiring an additional 600 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in shares of FLEX LNG by 3.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after purchasing an additional 666 shares in the last quarter. Quadrant Capital Group LLC increased its stake in FLEX LNG by 465.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $26,000 after acquiring an additional 941 shares during the last quarter. Finally, WFA Asset Management Corp lifted its position in FLEX LNG by 106.8% during the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock valued at $47,000 after purchasing an additional 1,068 shares during the last quarter.

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.