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

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

A number of other brokerages have also weighed in on FLNG. Jefferies Financial Group reiterated a "hold" rating and set a $23.00 target price on shares of FLEX LNG in a research report on Tuesday, February 4th. Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a report on Monday, February 17th.

FLEX LNG Stock Performance

Shares of FLNG stock traded up $0.56 during trading hours on Friday, hitting $23.87. 196,367 shares of the company were exchanged, compared to its average volume of 364,015. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.94 and a beta of 0.45. The firm has a fifty day simple moving average of $22.99 and a 200 day simple moving average of $23.55. FLEX LNG has a 52-week low of $19.46 and a 52-week high of $29.80.

FLEX LNG (NYSE:FLNG - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.04. The firm had revenue of $88.40 million for the quarter, compared to analyst estimates of $87.70 million. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. 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

A number of institutional investors and hedge funds have recently modified their holdings of FLNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in FLEX LNG by 145.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,030,250 shares of the company's stock worth $23,686,000 after purchasing an additional 610,236 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of FLEX LNG by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 360,588 shares of the company's stock worth $8,272,000 after purchasing an additional 3,411 shares during the period. Trek Financial LLC raised its position in shares of FLEX LNG by 106.4% in the first quarter. Trek Financial LLC now owns 344,794 shares of the company's stock worth $7,927,000 after buying an additional 177,711 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in shares of FLEX LNG by 45.2% in the first quarter. Gilman Hill Asset Management LLC now owns 325,872 shares of the company's stock worth $7,492,000 after buying an additional 101,392 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in FLEX LNG by 17.7% during the fourth quarter. Janus Henderson Group PLC now owns 299,864 shares of the company's stock valued at $6,717,000 after buying an additional 45,037 shares during the period.

FLEX LNG Company Profile

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.