FLEX LNG (NYSE:FLNG) Sees Unusually-High Trading Volume – Should You Buy?

FLEX LNG Ltd. (NYSE:FLNG) shares saw an uptick in trading volume on Wednesday . 155,820 shares were traded during mid-day trading, a decline of 47% from the previous session’s volume of 293,209 shares.The stock last traded at $24.79 and had previously closed at $25.05.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised shares of FLEX LNG from an “underperform” rating to a “hold” rating and set a $24.00 price objective on the stock in a research note on Wednesday, August 14th.

FLEX LNG Stock Down 0.0 %

The stock’s 50-day moving average price is $26.13 and its 200-day moving average price is $26.70. The company has a current ratio of 2.57, a quick ratio of 2.54 and a debt-to-equity ratio of 2.01. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 9.66 and a beta of 0.71.

FLEX LNG (NYSE:FLNG) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The firm had revenue of $84.70 million for the quarter. FLEX LNG had a return on equity of 16.79% and a net margin of 32.60%. On average, sell-side analysts expect that FLEX LNG Ltd. will post 2.37 earnings per share for the current year.

FLEX LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 12.22%. The ex-dividend date was Thursday, August 29th. FLEX LNG’s dividend payout ratio (DPR) is currently 118.11%.

Institutional Investors Weigh In On FLEX LNG

Hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors lifted its holdings in shares of FLEX LNG by 5.6% in the 2nd quarter. Optimum Investment Advisors now owns 9,395 shares of the company’s stock worth $254,000 after purchasing an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of FLEX LNG by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock worth $296,000 after acquiring an additional 652 shares during the last quarter. Squarepoint Ops LLC lifted its position in FLEX LNG by 7.7% in the 2nd quarter. Squarepoint Ops LLC now owns 11,326 shares of the company’s stock valued at $306,000 after acquiring an additional 806 shares in the last quarter. Beck Capital Management LLC boosted its stake in FLEX LNG by 0.8% during the 2nd quarter. Beck Capital Management LLC now owns 111,308 shares of the company’s stock valued at $3,010,000 after purchasing an additional 911 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in FLEX LNG by 13.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,541 shares of the company’s stock worth $218,000 after purchasing an additional 993 shares in the last quarter.

About FLEX LNG

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.