Golar LNG Limited (NASDAQ:GLNG) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 5,310,000 shares, a drop of 25.9% from the March 15th total of 7,170,000 shares. Approximately 5.7% of the company's shares are sold short. Based on an average daily volume of 1,900,000 shares, the short-interest ratio is presently 2.8 days.
NASDAQ GLNG traded up $0.35 during trading hours on Friday, hitting $10.49. 1,696,935 shares of the company's stock traded hands, compared to its average volume of 1,905,706. The business's fifty day moving average price is $10.92 and its two-hundred day moving average price is $9.96. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.15 and a current ratio of 0.15. Golar LNG has a 52 week low of $5.39 and a 52 week high of $15.12.
A number of brokerages recently issued reports on GLNG. Jefferies Financial Group lifted their price target on shares of Golar LNG from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, January 29th. Citigroup began coverage on shares of Golar LNG in a research report on Tuesday, March 2nd. They set a "neutral" rating and a $13.00 price target for the company. Bank of America cut shares of Golar LNG from a "buy" rating to an "underperform" rating and set a $10.00 price target for the company. in a research report on Tuesday. Finally, B. Riley lifted their target price on shares of Golar LNG from $13.00 to $20.50 and gave the stock a "buy" rating in a report on Thursday, January 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. Golar LNG presently has an average rating of "Hold" and a consensus price target of $13.42.
Several hedge funds have recently added to or reduced their stakes in GLNG. Luminus Management LLC raised its stake in Golar LNG by 286.2% during the fourth quarter. Luminus Management LLC now owns 313,456 shares of the shipping company's stock valued at $3,022,000 after purchasing an additional 232,288 shares in the last quarter. Brookfield Asset Management Inc. purchased a new stake in Golar LNG during the fourth quarter valued at $2,214,000. Duff & Phelps Investment Management Co. raised its stake in Golar LNG by 0.3% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,181,340 shares of the shipping company's stock valued at $11,388,000 after purchasing an additional 3,000 shares in the last quarter. Engineers Gate Manager LP bought a new position in Golar LNG during the fourth quarter valued at $115,000. Finally, KBC Group NV increased its position in Golar LNG by 187.4% during the fourth quarter. KBC Group NV now owns 28,150 shares of the shipping company's stock valued at $271,000 after acquiring an additional 18,356 shares during the last quarter. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
About Golar LNG
Golar LNG Limited provides infrastructure for the liquefaction, transportation, regasification, and downstream distribution of LNG. It operates through three segments: Vessel Operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers, FLNG, and floating storage regasification units (FSRUs); and the development of gas to power projects, as well as LNG distribution operations.
Recommended Story: volatile stocks
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Quick Ratio7 Bellwether Stocks Signaling a Return to Normal
Bellwether stocks are considered to be leading indicators about the direction of the overall economy, a specific sector, or the broader market. They are predictive stocks in that investors can use the company’s earnings reports to gauge economic strength or weakness.
The traditional definition of bellwether stocks brings to mind established, blue-chip companies. They are the home of mature brands with consumer loyalty. These may be stocks that aren’t associated with exceptional growth; some may be dividend stocks.
But there’s something different about normal this time around. If it’s true (and I think it is) that the old rules no longer apply, investors need to change the way they think about bellwether stocks. Plus, let’s face it, many stocks that we might consider to be bellwether stocks have already had a bit of a vaccine rally. That means that the easy gains are gone.
With that in mind, we’ve put together this special presentation that highlights seven of what may be termed the new bellwether stocks. These are stocks that investors should be paying attention to as the economy continues to reopen.
One quality of many of these stocks is that they are either negative for 2021 or underperforming the broader market. And that means that they are likely to have a strong upside as the economy grows.
View the "7 Bellwether Stocks Signaling a Return to Normal"