FLEX LNG (NYSE:FLNG) Stock Price Up 2.5% – What’s Next?

FLEX LNG Ltd. (NYSE:FLNG)’s stock price rose 2.5% during trading on Monday . The stock traded as high as $22.55 and last traded at $22.35. Approximately 135,570 shares changed hands 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.

Analyst Ratings Changes

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

FLEX LNG Stock Up 2.8 %

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

FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders 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 annualized dividend and a yield of 13.39%. FLEX LNG’s dividend payout ratio is currently 176.47%.

Institutional Trading of FLEX LNG

Several hedge funds have recently made changes to their positions in FLNG. HHM Wealth Advisors LLC purchased a new stake in FLEX LNG in the 2nd quarter valued at approximately $47,000. GAMMA Investing LLC increased its position in 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 purchasing an additional 1,939 shares in the last quarter. Rothschild Investment LLC acquired a new position in FLEX LNG in the 2nd quarter valued at about $81,000. Redwood Wealth Management Group LLC acquired a new stake in shares of FLEX LNG during the 2nd quarter worth about $98,000. Finally, FMR LLC raised its position in shares of FLEX LNG by 39.4% in the third quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after buying an additional 2,075 shares during 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.