FLEX LNG (NYSE:FLNG) Shares Gap Down – Time to Sell?

FLEX LNG Ltd. (NYSE:FLNG) gapped down prior to trading on Friday . The stock had previously closed at $25.77, but opened at $25.19. FLEX LNG shares last traded at $25.47, with a volume of 80,032 shares changing hands.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “hold” rating and issued a $24.00 price objective on shares of FLEX LNG in a report on Tuesday, November 12th.

FLEX LNG Stock Down 1.8 %

The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. The business has a 50 day simple moving average of $23.83 and a 200-day simple moving average of $25.29. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 14.88 and a beta of 0.72.

FLEX LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th were paid a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $3.00 annualized dividend and a dividend yield of 11.86%. FLEX LNG’s dividend payout ratio (DPR) is 176.47%.

Institutional Trading of FLEX LNG

Hedge funds and other institutional investors have recently modified their holdings of the business. Beck Capital Management LLC lifted its holdings in shares of FLEX LNG by 0.5% in the 3rd quarter. Beck Capital Management LLC now owns 111,891 shares of the company’s stock worth $2,847,000 after acquiring an additional 583 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of FLEX LNG by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock worth $296,000 after buying an additional 652 shares during the period. Squarepoint Ops LLC grew its stake 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 buying an additional 806 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of FLEX LNG by 11.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,408 shares of the company’s stock valued at $265,000 after buying an additional 1,094 shares during the period. Finally, Dakota Wealth Management lifted its stake in FLEX LNG by 7.1% during the 4th quarter. Dakota Wealth Management now owns 24,441 shares of the company’s stock worth $561,000 after acquiring an additional 1,611 shares in the last quarter.

FLEX LNG Company Profile

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.