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

FLEX LNG Ltd. (NYSE:FLNG) was the target 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 days-to-cover ratio is currently 7.8 days.

Institutional Investors Weigh In On FLEX LNG

Several hedge funds have recently bought and sold shares of the stock. HHM Wealth Advisors LLC acquired a new stake in FLEX LNG in the second quarter valued at approximately $47,000. GAMMA Investing LLC lifted its position in shares of FLEX LNG by 6,254.8% in the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock valued at $50,000 after acquiring an additional 1,939 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of FLEX LNG in the second quarter worth approximately $81,000. Redwood Wealth Management Group LLC acquired a new position in FLEX LNG in the 2nd quarter valued at $98,000. Finally, FMR LLC lifted its stake in shares of FLEX LNG by 39.4% in the third quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after buying an additional 2,075 shares in the last quarter.

Analyst Ratings Changes

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

FLEX LNG Trading Up 1.9 %

FLEX LNG stock traded up $0.49 during trading hours on Tuesday, hitting $26.43. 142,472 shares of the stock traded hands, compared to its average volume of 302,426. FLEX LNG has a 1 year low of $22.80 and a 1 year high of $31.78. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 1.97. The firm’s 50 day moving average price is $25.40 and its 200-day moving average price is $26.55.

FLEX LNG Dividend Announcement

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

About FLEX LNG

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.