Golar LNG Limited (NASDAQ:GLNG) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 9,390,000 shares, a growth of 42.3% from the June 30th total of 6,600,000 shares. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is presently 7.3 days. Currently, 11.3% of the company’s stock are short sold.
A number of institutional investors have recently bought and sold shares of GLNG. Valeo Financial Advisors LLC purchased a new position in Golar LNG in the second quarter worth about $78,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Golar LNG by 33.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,000 shares of the shipping company’s stock worth $109,000 after buying an additional 2,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Golar LNG by 19.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 20,199 shares of the shipping company’s stock valued at $159,000 after buying an additional 3,323 shares during the period. Amalgamated Bank increased its holdings in Golar LNG by 9.1% during the fourth quarter. Amalgamated Bank now owns 15,449 shares of the shipping company’s stock valued at $220,000 after buying an additional 1,290 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Golar LNG in the fourth quarter worth approximately $223,000. Institutional investors own 61.42% of the company’s stock.
GLNG has been the subject of several analyst reports. ValuEngine upgraded Golar LNG from a “hold” rating to a “buy” rating in a report on Friday, May 1st. B. Riley reduced their price objective on shares of Golar LNG from $21.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Cowen dropped their target price on shares of Golar LNG from $15.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Finally, Zacks Investment Research downgraded shares of Golar LNG from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $16.55.
Golar LNG (NASDAQ:GLNG) last posted its earnings results on Thursday, May 28th. The shipping company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.23). The company had revenue of $117.73 million during the quarter, compared to the consensus estimate of $108.58 million. Golar LNG had a negative return on equity of 3.77% and a negative net margin of 60.05%. Equities research analysts anticipate that Golar LNG will post -0.13 EPS for the current fiscal year.
Golar LNG Company Profile
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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