FLEX LNG (NYSE:FLNG) Upgraded by Wall Street Zen to "Hold" Rating

FLEX LNG (NYSE:FLNG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other equities analysts have also recently issued research reports about the company. Fearnley Fonds upgraded FLEX LNG to a "hold" rating in a report on Monday, February 17th. Jefferies Financial Group restated a "hold" rating and set a $23.00 price objective on shares of FLEX LNG in a report on Tuesday, February 4th.

FLEX LNG Trading Up 1.7%

Shares of FLEX LNG stock traded up $0.39 on Friday, reaching $23.31. The company had a trading volume of 297,297 shares, compared to its average volume of 364,620. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 10.69 and a beta of 0.45. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The firm's 50-day moving average price is $22.99 and its two-hundred day moving average price is $23.55. FLEX LNG has a 1 year low of $19.46 and a 1 year high of $29.80.

FLEX LNG (NYSE:FLNG - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. The firm had revenue of $88.40 million during the quarter, compared to analysts' expectations of $87.70 million. As a group, research analysts predict that FLEX LNG will post 1.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FLEX LNG

Hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund lifted its holdings in shares of FLEX LNG by 41.8% in the 4th quarter. New York State Common Retirement Fund now owns 98,451 shares of the company's stock worth $2,258,000 after buying an additional 29,000 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of FLEX LNG in the 4th quarter worth $3,890,000. Atria Wealth Solutions Inc. lifted its holdings in shares of FLEX LNG by 3.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock worth $516,000 after buying an additional 666 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of FLEX LNG by 1,894.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company's stock worth $241,000 after buying an additional 9,967 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of FLEX LNG by 21.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,226 shares of the company's stock worth $281,000 after buying an additional 2,123 shares during the period.

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.