FLEX LNG (NYSE:FLNG) Shares Gap Down – Here’s What Happened

FLEX LNG Ltd. (NYSE:FLNG) shares gapped down prior to trading on Friday . The stock had previously closed at $25.77, but opened at $25.19. FLEX LNG shares last traded at $25.47, with a volume of 80,032 shares changing hands.

Wall Street Analysts Forecast Growth

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

FLEX LNG Trading Down 2.7 %

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 stock has a market capitalization of $1.35 billion, a P/E ratio of 14.75 and a beta of 0.72. The business’s fifty day simple moving average is $23.85 and its two-hundred day simple moving average is $25.28.

FLEX LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 27th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 11.96%. The ex-dividend date was Wednesday, November 27th. FLEX LNG’s payout ratio is presently 176.47%.

Hedge Funds Weigh In On FLEX LNG

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLNG. GAMMA Investing LLC grew 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 purchasing an additional 1,939 shares in the last quarter. FMR LLC lifted its position in FLEX LNG by 39.4% in the third quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after purchasing an additional 2,075 shares during the period. Creative Planning acquired a new stake in FLEX LNG during the third quarter worth $206,000. Intech Investment Management LLC bought a new stake in FLEX LNG in the 3rd quarter valued at $210,000. Finally, Cypress Wealth Services LLC acquired a new position in shares of FLEX LNG in the 3rd quarter valued at $213,000.

FLEX LNG Company Profile

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.