FLEX LNG (NYSE:FLNG) Stock Rating Upgraded by Fearnley Fonds

FLEX LNG (NYSE:FLNG) was upgraded by equities researchers at Fearnley Fonds to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Separately, Jefferies Financial Group reissued a “hold” rating and set a $23.00 price objective on shares of FLEX LNG in a research note on Tuesday, February 4th.

FLEX LNG Stock Down 4.3 %

Shares of NYSE FLNG opened at $23.77 on Monday. FLEX LNG has a one year low of $20.85 and a one year high of $30.48. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The firm’s 50 day simple moving average is $24.15 and its two-hundred day simple moving average is $25.02. The stock has a market capitalization of $1.28 billion, a P/E ratio of 10.91 and a beta of 0.70.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, analysts expect that FLEX LNG will post 1.9 EPS for the current fiscal year.

Hedge Funds Weigh In On FLEX LNG

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its position in FLEX LNG by 2.3% during the third quarter. State Street Corp now owns 515,911 shares of the company’s stock valued at $13,125,000 after buying an additional 11,695 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in FLEX LNG by 10.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,014 shares of the company’s stock valued at $9,630,000 after buying an additional 39,572 shares during the period. Geode Capital Management LLC lifted its position in FLEX LNG by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 360,588 shares of the company’s stock valued at $8,272,000 after buying an additional 3,411 shares during the period. Janus Henderson Group PLC lifted its position in FLEX LNG by 17.7% during the fourth quarter. Janus Henderson Group PLC now owns 299,864 shares of the company’s stock valued at $6,717,000 after buying an additional 45,037 shares during the period. Finally, Denali Advisors LLC lifted its position in FLEX LNG by 19.8% during the fourth quarter. Denali Advisors LLC now owns 236,900 shares of the company’s stock valued at $5,434,000 after buying an additional 39,100 shares during the period.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.