Golar LNG Limited (NASDAQ:GLNG – Get Rating) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 3,740,000 shares, an increase of 129.4% from the April 30th total of 1,630,000 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is presently 2.1 days.
GLNG has been the subject of a number of research reports. Zacks Investment Research raised Golar LNG from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research note on Tuesday, February 15th. TheStreet raised shares of Golar LNG from a “d+” rating to a “c-” rating in a research note on Wednesday, March 23rd. StockNews.com cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Friday, May 13th. B. Riley raised their price target on shares of Golar LNG from $20.50 to $28.00 in a research note on Friday, February 25th. Finally, Jefferies Financial Group initiated coverage on shares of Golar LNG in a research note on Wednesday, April 27th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Golar LNG currently has a consensus rating of “Buy” and a consensus target price of $23.30.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. lifted its holdings in Golar LNG by 73.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 295,900 shares of the shipping company’s stock valued at $6,241,000 after purchasing an additional 125,000 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in Golar LNG by 141.9% during the 3rd quarter. Advisor Group Holdings Inc. now owns 7,067 shares of the shipping company’s stock valued at $92,000 after purchasing an additional 4,145 shares during the last quarter. BlackRock Inc. lifted its holdings in Golar LNG by 0.4% during the 3rd quarter. BlackRock Inc. now owns 5,284,835 shares of the shipping company’s stock valued at $68,544,000 after purchasing an additional 21,023 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Golar LNG by 177.4% during the 3rd quarter. Goldman Sachs Group Inc. now owns 1,300,134 shares of the shipping company’s stock valued at $16,863,000 after purchasing an additional 831,443 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Golar LNG during the 3rd quarter valued at $324,000. 82.17% of the stock is owned by institutional investors.
Golar LNG (NASDAQ:GLNG – Get Rating) last released its quarterly earnings data on Thursday, February 24th. The shipping company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.10 by $0.12. The company had revenue of $115.39 million during the quarter, compared to the consensus estimate of $114.01 million. Golar LNG had a return on equity of 2.31% and a net margin of 180.59%. As a group, sell-side analysts predict that Golar LNG will post 0.86 EPS for the current fiscal year.
About Golar LNG (Get Rating)
Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.
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