Flex LNG (NYSE:FLNG) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Flex LNG from “sell” to “hold,” but the broader analyst consensus remains “sell,” with one hold and two sell ratings and an average price target of $25.
• Flex LNG reported quarterly EPS of $0.79, exceeding the $0.62 consensus estimate, while revenue of $106.8 million also topped expectations of $93.53 million.
• FLNG opened at $32.06, near its 52-week high of $33.40, with a $1.73 billion market capitalization; several institutional investors recently initiated or increased positions in the stock.

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 research note issued on Saturday.

Several other research firms have also recently issued reports on FLNG. Kepler Capital Markets set a $25.00 target price on shares of Flex LNG and gave the company a "reduce" rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Flex LNG in a research note on Wednesday, July 8th. Finally, Pareto Securities cut shares of Flex LNG from a "buy" rating to a "sell" rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Flex LNG currently has a consensus rating of "Sell" and an average target price of $25.00.

Flex LNG Price Performance

FLNG stock opened at $32.06 on Friday. The stock has a market capitalization of $1.73 billion, a P/E ratio of 16.87 and a beta of 0.20. The company has a debt-to-equity ratio of 2.40, a current ratio of 2.69 and a quick ratio of 2.69. Flex LNG has a 1-year low of $24.00 and a 1-year high of $33.40. The business has a fifty day moving average price of $30.42 and a 200-day moving average price of $30.04.

Flex LNG (NYSE:FLNG - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.62 by $0.17. Flex LNG had a return on equity of 14.88% and a net margin of 28.50%.The company had revenue of $106.80 million for the quarter, compared to analysts' expectations of $93.53 million.

Institutional Investors Weigh In On Flex LNG

A number of large investors have recently made changes to their positions in FLNG. Western Wealth Management LLC purchased a new stake in shares of Flex LNG during the 1st quarter valued at about $26,000. Main Street Group LTD bought a new stake in Flex LNG during the first quarter valued at approximately $30,000. Financial Life Planners purchased a new stake in Flex LNG during the first quarter valued at approximately $43,000. Kestra Advisory Services LLC purchased a new stake in Flex LNG during the fourth quarter valued at approximately $43,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Flex LNG by 364.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company's stock valued at $45,000 after buying an additional 1,408 shares during the last quarter.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company's core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.

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