FLEX LNG (NYSE:FLNG) Earns Hold Rating from Jefferies Financial Group

FLEX LNG (NYSE:FLNG)‘s stock had its “hold” rating reaffirmed by Jefferies Financial Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $23.00 price target on the stock. Jefferies Financial Group’s price objective points to a potential downside of 11.40% from the stock’s current price.

FLEX LNG Stock Down 0.3 %

FLNG stock opened at $25.96 on Tuesday. 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 firm has a market capitalization of $1.40 billion, a P/E ratio of 15.27 and a beta of 0.70. FLEX LNG has a 52-week low of $20.85 and a 52-week high of $30.48. The company’s 50 day simple moving average is $23.82 and its 200-day simple moving average is $25.14.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. FLEX LNG had a net margin of 25.33% and a return on equity of 16.27%. During the same quarter in the previous year, the company posted $0.70 EPS. As a group, equities research analysts anticipate that FLEX LNG will post 2.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its holdings in shares of FLEX LNG by 7.7% in the second quarter. Squarepoint Ops LLC now owns 11,326 shares of the company’s stock valued at $306,000 after purchasing an additional 806 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in FLEX LNG by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock valued at $296,000 after purchasing an additional 652 shares in the last quarter. Cetera Investment Advisers increased its position in shares of FLEX LNG by 3.9% in the 2nd quarter. Cetera Investment Advisers now owns 68,885 shares of the company’s stock valued at $1,863,000 after buying an additional 2,585 shares in the last quarter. GAMMA Investing LLC lifted 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 valued at $50,000 after purchasing an additional 1,939 shares in the last quarter. Finally, Cypress Wealth Services LLC acquired a new position in shares of FLEX LNG in the third quarter valued at approximately $213,000.

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.