Flex LNG (NYSE:FLNG) Stock Rating Lowered by Wall Street Zen

Key Points

• Flex LNG's rating has been downgraded from "hold" to "sell" by analysts at Wall Street Zen.
• The company's stock opened at $23.12 and has a market capitalization of $1.25 billion.
• Flex LNG recently reported earnings of $0.54 EPS, exceeding analysts' estimates of $0.50.

Flex LNG (NYSE:FLNG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Flex LNG Stock Up 0.3%

FLNG traded up $0.08 during trading hours on Friday, reaching $23.12. 224,778 shares of the stock traded hands, compared to its average volume of 412,770. The firm's fifty day simple moving average is $23.40 and its two-hundred day simple moving average is $23.50. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 12.10 and a beta of 0.45. Flex LNG has a fifty-two week low of $19.46 and a fifty-two week high of $27.77. The company has a debt-to-equity ratio of 2.14, a current ratio of 2.77 and a quick ratio of 2.74.

Flex LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.04. Flex LNG had a net margin of 29.10% and a return on equity of 14.83%. The firm had revenue of $88.40 million for the quarter, compared to the consensus estimate of $87.70 million. As a group, analysts forecast that Flex LNG will post 1.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Flex LNG by 69.0% in the 1st quarter. GAMMA Investing LLC now owns 1,102 shares of the company's stock valued at $25,000 after buying an additional 450 shares during the period. Monetary Management Group Inc. lifted its position in Flex LNG by 6.1% in the 1st quarter. Monetary Management Group Inc. now owns 10,450 shares of the company's stock valued at $240,000 after purchasing an additional 600 shares during the last quarter. Apollon Wealth Management LLC lifted its position in Flex LNG by 7.3% in the 1st quarter. Apollon Wealth Management LLC now owns 10,782 shares of the company's stock valued at $248,000 after purchasing an additional 730 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Flex LNG by 465.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock valued at $26,000 after purchasing an additional 941 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its position in Flex LNG by 6.7% in the 1st quarter. Arkadios Wealth Advisors now owns 15,358 shares of the company's stock valued at $353,000 after purchasing an additional 960 shares during the last quarter.

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.