FLEX LNG (NYSE:FLNG) Trading Up 2.5% – Here’s What Happened

FLEX LNG Ltd. (NYSE:FLNG)’s share price rose 2.5% during mid-day trading on Monday . The company traded as high as $22.55 and last traded at $22.35. Approximately 135,570 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 316,149 shares. The stock had previously closed at $21.81.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 target price on shares of FLEX LNG in a report on Tuesday, November 12th.

FLEX LNG Stock Up 2.8 %

The firm has a 50-day simple moving average of $23.75 and a 200 day simple moving average of $25.49. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.21 and a quick ratio of 2.18. The company has a market capitalization of $1.19 billion, a PE ratio of 13.18 and a beta of 0.71.

FLEX LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 27th were paid a $0.75 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.39%. FLEX LNG’s dividend payout ratio (DPR) is presently 176.47%.

Institutional Investors Weigh In On FLEX LNG

Institutional investors have recently modified their holdings of the stock. HHM Wealth Advisors LLC acquired a new stake in FLEX LNG during the second quarter valued at approximately $47,000. GAMMA Investing LLC increased its stake in shares of FLEX LNG by 6,254.8% in the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock valued at $50,000 after purchasing an additional 1,939 shares during the period. Rothschild Investment LLC bought a new stake in shares of FLEX LNG during the second quarter valued at approximately $81,000. Redwood Wealth Management Group LLC acquired a new position in shares of FLEX LNG during the second quarter worth approximately $98,000. Finally, FMR LLC grew its holdings in FLEX LNG by 39.4% in the 3rd quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after buying an additional 2,075 shares in the last quarter.

About FLEX LNG

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.