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

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

Several other brokerages also recently issued reports on FLNG. Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a research report on Monday, February 17th. Jefferies Financial Group reaffirmed 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 Price Performance

Shares of FLEX LNG stock traded down $0.16 on Friday, hitting $23.84. The company had a trading volume of 20,577 shares, compared to its average volume of 363,441. The business has a 50-day simple moving average of $23.03 and a 200-day simple moving average of $23.55. 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 company has a market cap of $1.28 billion, a PE ratio of 10.92 and a beta of 0.45. FLEX LNG has a 52 week low of $19.46 and a 52 week high of $29.22.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of FLEX LNG by 145.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,030,250 shares of the company's stock valued at $23,686,000 after acquiring an additional 610,236 shares during the period. Crossingbridge Advisors LLC bought a new position in FLEX LNG during the fourth quarter worth about $5,405,000. Trek Financial LLC boosted its position in FLEX LNG by 106.4% during the first quarter. Trek Financial LLC now owns 344,794 shares of the company's stock worth $7,927,000 after purchasing an additional 177,711 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of FLEX LNG in the fourth quarter worth about $3,890,000. Finally, Nuveen LLC purchased a new stake in shares of FLEX LNG in the first quarter worth about $2,737,000.

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.