Short Interest in FLEX LNG Ltd. (NYSE:FLNG) Increases By 5.9%

FLEX LNG Ltd. (NYSE:FLNG) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 2,170,000 shares, a growth of 5.9% from the October 15th total of 2,050,000 shares. Approximately 7.1% of the company’s stock are short sold. Based on an average daily volume of 276,600 shares, the short-interest ratio is presently 7.8 days.

FLEX LNG Price Performance

NYSE:FLNG traded up $0.49 during trading hours on Tuesday, hitting $26.43. The company’s stock had a trading volume of 142,472 shares, compared to its average volume of 302,426. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. FLEX LNG has a 52-week low of $22.80 and a 52-week high of $31.78. The stock has a fifty day moving average of $25.40 and a 200-day moving average of $26.55.

FLEX LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 27th will be given a $0.75 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a yield of 11.35%. FLEX LNG’s dividend payout ratio (DPR) is presently 176.47%.

Analysts Set New Price Targets

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

Institutional Trading of FLEX LNG

Several institutional investors and hedge funds have recently made changes to their positions in FLNG. HHM Wealth Advisors LLC purchased a new position in shares of FLEX LNG during the second quarter worth approximately $47,000. 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 worth $50,000 after buying an additional 1,939 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of FLEX LNG in the 2nd quarter valued at approximately $81,000. Redwood Wealth Management Group LLC purchased a new position in FLEX LNG during the 2nd quarter worth $98,000. Finally, FMR LLC lifted its position in FLEX LNG by 39.4% in the third quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after purchasing an additional 2,075 shares during the period.

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.