SFL (NYSE:SFL) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• SFL shares crossed above their 200-day moving average of $11.07, reaching $12.54 before closing at $12.4450 on volume of about 1.42 million shares.
• Analyst sentiment is mixed but leans positive: BTIG Research raised its price target to $14 and maintained a buy rating, while other coverage includes hold ratings. The consensus rating is “Moderate Buy,” with an average price target of $14.
• Institutional ownership stands at 28.59%, with several smaller investment firms recently increasing or initiating positions in SFL.

SFL Corporation Ltd. (NYSE:SFL - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.07 and traded as high as $12.54. SFL shares last traded at $12.4450, with a volume of 1,422,195 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a "hold (c)" rating on shares of SFL in a research note on Wednesday, August 12th. BTIG Research raised their price target on SFL from $12.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Finally, Wall Street Zen lowered SFL from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, SFL currently has a consensus rating of "Moderate Buy" and an average price target of $14.00.

SFL Price Performance

The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 51.86 and a beta of 0.43. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.84. The company's fifty day moving average is $11.41 and its two-hundred day moving average is $11.07.

Institutional Investors Weigh In On SFL

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in SFL by 789.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company's stock valued at $28,000 after purchasing an additional 2,944 shares during the last quarter. Triumph Capital Management bought a new position in SFL during the third quarter worth about $32,000. NFSG Corp grew its position in shares of SFL by 50.0% during the 1st quarter. NFSG Corp now owns 4,500 shares of the shipping company's stock worth $49,000 after buying an additional 1,500 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of SFL during the 4th quarter worth about $47,000. Finally, Quadrant Capital Group LLC grew its position in shares of SFL by 122.3% during the 4th quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company's stock worth $48,000 after buying an additional 3,377 shares during the period. 28.59% of the stock is owned by institutional investors and hedge funds.

SFL Company Profile

Ship Finance International Limited NYSE: SFL is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.

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