FLEX LNG Ltd. (NYSE:FLNG) Sees Significant Increase in Short Interest

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

FLEX LNG Stock Up 0.5 %

NYSE:FLNG traded up $0.13 during trading hours on Friday, hitting $24.85. 301,087 shares of the stock traded hands, compared to its average volume of 431,521. The firm has a 50 day moving average price of $24.08 and a 200 day moving average price of $25.05. 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 has a fifty-two week low of $20.85 and a fifty-two week high of $30.48. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 11.40 and a beta of 0.70.

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 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 quarter in the prior year, the company posted $0.70 EPS. Equities research analysts anticipate that FLEX LNG will post 1.9 earnings per share for the current year.

FLEX LNG Announces Dividend

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

Hedge Funds Weigh In On FLEX LNG

Several institutional investors and hedge funds have recently modified their holdings of FLNG. Crossingbridge Advisors LLC purchased a new position in shares of FLEX LNG during the 4th quarter valued at $5,405,000. Raymond James Financial Inc. acquired a new position in FLEX LNG during the fourth quarter worth $3,890,000. Trek Financial LLC acquired a new position in FLEX LNG during the fourth quarter worth $3,833,000. Jennison Associates LLC acquired a new position in FLEX LNG during the third quarter worth $1,460,000. Finally, AlphaCentric Advisors LLC acquired a new position in FLEX LNG during the fourth quarter worth $1,198,000.

Analyst Upgrades and Downgrades

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

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.