Jefferies Financial Group Reaffirms Hold Rating for FLEX LNG (NYSE:FLNG)

FLEX LNG (NYSE:FLNG)‘s stock had its “hold” rating reissued by analysts at Jefferies Financial Group in a research note issued on Tuesday,Benzinga reports. They presently have a $23.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential downside of 11.40% from the stock’s current price.

FLEX LNG Price Performance

NYSE:FLNG opened at $25.96 on Tuesday. FLEX LNG has a 12-month low of $20.85 and a 12-month high of $30.48. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 15.27 and a beta of 0.70. The company’s 50-day moving average is $23.82 and its two-hundred day moving average is $25.14. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 1.97.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. FLEX LNG had a return on equity of 16.27% and a net margin of 25.33%. During the same period in the previous year, the business posted $0.70 earnings per share. Research analysts expect that FLEX LNG will post 2.3 EPS for the current year.

Institutional Investors Weigh In On FLEX LNG

A number of hedge funds have recently bought and sold shares of FLNG. Financial Life Planners acquired a new position in shares of FLEX LNG in the 4th quarter valued at about $29,000. WFA Asset Management Corp boosted its stake in FLEX LNG by 106.8% in the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock valued at $47,000 after acquiring an additional 1,068 shares during the period. GAMMA Investing LLC grew its holdings in shares of FLEX LNG by 6,254.8% during the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock valued at $50,000 after purchasing an additional 1,939 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of FLEX LNG during the fourth quarter valued at approximately $75,000. Finally, FMR LLC raised its position in shares of FLEX LNG by 39.4% during the 3rd quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after purchasing an additional 2,075 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.