FLEX LNG (NYSE:FLNG) Sees Unusually-High Trading Volume – What’s Next?

Shares of FLEX LNG Ltd. (NYSE:FLNG) saw unusually-high trading volume on Wednesday . Approximately 155,820 shares were traded during mid-day trading, a decline of 47% from the previous session’s volume of 293,209 shares.The stock last traded at $24.79 and had previously closed at $25.05.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised FLEX LNG from an “underperform” rating to a “hold” rating and set a $24.00 price target for the company in a research report on Wednesday, August 14th.

FLEX LNG Price Performance

The company has a current ratio of 2.57, a quick ratio of 2.54 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $1.31 billion, a P/E ratio of 9.66 and a beta of 0.71. The company has a 50 day moving average price of $26.13 and a 200 day moving average price of $26.70.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The firm had revenue of $84.70 million during the quarter. FLEX LNG had a net margin of 32.60% and a return on equity of 16.79%. On average, equities analysts predict that FLEX LNG Ltd. will post 2.37 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 12.22%. The ex-dividend date of this dividend was Thursday, August 29th. FLEX LNG’s dividend payout ratio (DPR) is currently 118.11%.

Institutional Investors Weigh In On FLEX LNG

Institutional investors and hedge funds have recently bought and sold shares of the company. HHM Wealth Advisors LLC bought a new stake in shares of FLEX LNG during the 2nd quarter worth approximately $47,000. GAMMA Investing LLC raised its holdings in shares of FLEX LNG by 6,254.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after buying an additional 1,939 shares in the last quarter. Rothschild Investment LLC acquired a new stake in FLEX LNG in the second quarter valued at about $81,000. Redwood Wealth Management Group LLC acquired a new stake in shares of FLEX LNG in the 2nd quarter valued at approximately $98,000. Finally, Creative Planning bought a new stake in shares of FLEX LNG during the 3rd quarter valued at approximately $206,000.

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.