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

Flex LNG (NYSE:FLNG) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities analysts also recently weighed in on the company. Pareto Securities downgraded Flex LNG from a “buy” rating to a “sell” rating in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Flex LNG in a research note on Wednesday, July 8th. Finally, Kepler Capital Markets set a $25.00 target price on Flex LNG and gave the stock a “reduce” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $24.00.

Flex LNG Stock Performance

Shares of FLNG opened at $30.63 on Friday. The firm has a 50-day moving average of $30.59 and a 200-day moving average of $29.19. Flex LNG has a one year low of $22.62 and a one year high of $33.40. The company has a market cap of $1.66 billion, a PE ratio of 21.88 and a beta of 0.20. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.72 and a quick ratio of 2.69.

Flex LNG (NYSE:FLNG) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Flex LNG had a return on equity of 12.15% and a net margin of 22.26%.The firm had revenue of $80.46 million for the quarter, compared to analyst estimates of $80.35 million.

Institutional Investors Weigh In On Flex LNG

A number of hedge funds and other institutional investors have recently modified their holdings of FLNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Flex LNG in the third quarter valued at about $28,392,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Flex LNG in the third quarter valued at about $9,764,000. Dimensional Fund Advisors LP bought a new position in Flex LNG during the third quarter worth about $9,497,000. Renaissance Technologies LLC increased its position in Flex LNG by 42.5% during the first quarter. Renaissance Technologies LLC now owns 1,170,795 shares of the company’s stock worth $34,784,000 after acquiring an additional 349,191 shares during the period. Finally, Two Sigma Investments LP increased its position in Flex LNG by 834.5% during the third quarter. Two Sigma Investments LP now owns 271,681 shares of the company’s stock worth $6,846,000 after acquiring an additional 242,608 shares during the period.

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.