SFL (NYSE:SFL) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

SFL Corporation Ltd. (NYSE:SFL)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.07 and traded as high as $12.54. SFL shares last traded at $12.4450, with a volume of 1,422,195 shares trading hands.

Analyst Ratings Changes

SFL has been the subject of a number of analyst reports. Wall Street Zen cut shares of SFL from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of SFL in a report on Wednesday, August 12th. Finally, BTIG Research lifted their price target on shares of SFL from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

SFL Price Performance

The company has a 50-day moving average of $11.44 and a 200-day moving average of $11.09. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 52.34 and a beta of 0.43.

Hedge Funds Weigh In On SFL

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of SFL by 789.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock worth $28,000 after buying an additional 2,944 shares during the period. Triumph Capital Management acquired a new stake in SFL in the 3rd quarter valued at approximately $32,000. Kemnay Advisory Services Inc. acquired a new stake in SFL in the 4th quarter valued at approximately $47,000. Quadrant Capital Group LLC raised its position in SFL by 122.3% in the 4th quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company’s stock valued at $48,000 after buying an additional 3,377 shares during the last quarter. Finally, NFSG Corp lifted its stake in SFL by 50.0% in the 1st quarter. NFSG Corp now owns 4,500 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 28.59% of the company’s stock.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.