Flex LNG (NYSE:FLNG) Rating Lowered to “Sell” at Wall Street Zen

Flex LNG (NYSE:FLNG) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Flex LNG in a report on Monday, December 22nd. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Flex LNG presently has a consensus rating of “Hold” and a consensus target price of $23.00.

Flex LNG Price Performance

Flex LNG stock opened at $26.40 on Friday. Flex LNG has a 12-month low of $19.46 and a 12-month high of $27.67. The company has a current ratio of 3.10, a quick ratio of 3.05 and a debt-to-equity ratio of 2.39. The firm has a 50-day moving average price of $25.72 and a 200-day moving average price of $25.62. The firm has a market capitalization of $1.42 billion, a PE ratio of 14.43 and a beta of 0.32.

Flex LNG (NYSE:FLNG) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). The firm had revenue of $85.68 million for the quarter, compared to the consensus estimate of $83.52 million. Flex LNG had a net margin of 28.06% and a return on equity of 14.04%. As a group, equities research analysts forecast that Flex LNG will post 1.9 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Flex LNG by 364.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock valued at $45,000 after purchasing an additional 1,408 shares in the last quarter. Trek Financial LLC increased its stake in shares of Flex LNG by 10.9% during the fourth quarter. Trek Financial LLC now owns 391,676 shares of the company’s stock valued at $9,772,000 after buying an additional 38,438 shares during the period. Naples Global Advisors LLC raised its holdings in shares of Flex LNG by 1.5% in the fourth quarter. Naples Global Advisors LLC now owns 75,011 shares of the company’s stock valued at $1,872,000 after acquiring an additional 1,121 shares in the last quarter. Amplify Investments LLC lifted its stake in Flex LNG by 21.4% in the fourth quarter. Amplify Investments LLC now owns 3,417 shares of the company’s stock worth $85,000 after acquiring an additional 603 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new position in Flex LNG during the 4th quarter worth about $1,048,000.

About Flex LNG

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.