Weiss Ratings Reaffirms "Hold (C-)" Rating for Flex LNG (NYSE:FLNG)

Flex LNG (NYSE:FLNG - Get Free Report)'s stock had its "hold (c-)" rating restated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts also recently weighed in on the company. Jefferies Financial Group restated a "hold" rating and set a $23.00 target price on shares of Flex LNG in a research note on Wednesday, August 20th. Wall Street Zen upgraded Flex LNG from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $23.00.

Flex LNG Stock Performance

Shares of NYSE FLNG opened at $25.13 on Wednesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 2.81 and a current ratio of 2.84. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 13.66 and a beta of 0.46. The business's 50-day simple moving average is $25.66 and its 200-day simple moving average is $24.08. Flex LNG has a 52 week low of $19.46 and a 52 week high of $27.67.

Flex LNG (NYSE:FLNG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.01. The business had revenue of $86.00 million for the quarter, compared to analyst estimates of $82.44 million. Flex LNG had a return on equity of 14.41% and a net margin of 27.84%. As a group, equities research analysts expect that Flex LNG will post 1.9 earnings per share for the current fiscal year.

Institutional Trading of Flex LNG

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. lifted its position in shares of Flex LNG by 32.5% in the 2nd quarter. Osaic Holdings Inc. now owns 14,777 shares of the company's stock worth $325,000 after acquiring an additional 3,626 shares during the period. Advisory Services Network LLC lifted its position in shares of Flex LNG by 25.5% in the 2nd quarter. Advisory Services Network LLC now owns 20,107 shares of the company's stock worth $442,000 after acquiring an additional 4,081 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Flex LNG by 413.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,921 shares of the company's stock worth $86,000 after acquiring an additional 3,158 shares during the period. HRT Financial LP bought a new stake in shares of Flex LNG in the 2nd quarter worth approximately $1,609,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Flex LNG by 64.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,126 shares of the company's stock worth $69,000 after acquiring an additional 1,227 shares during the period.

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.

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