FLEX LNG (NYSE:FLNG) Reaches New 12-Month Low – Time to Sell?

FLEX LNG Ltd. (NYSE:FLNG)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $21.23 and last traded at $21.33, with a volume of 150420 shares changing hands. The stock had previously closed at $22.29.

Wall Street Analysts Forecast Growth

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

FLEX LNG Trading Up 0.2 %

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 stock has a fifty day simple moving average of $24.41 and a 200 day simple moving average of $25.85. The firm has a market capitalization of $1.14 billion, a P/E ratio of 12.58 and a beta of 0.71.

FLEX LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th were issued a $0.75 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $3.00 annualized dividend and a dividend yield of 14.03%. FLEX LNG’s dividend payout ratio (DPR) is 176.47%.

Institutional Investors Weigh In On FLEX LNG

A number of hedge funds have recently bought and sold shares of the business. Hosking Partners LLP lifted its stake in FLEX LNG by 42.0% in the second quarter. Hosking Partners LLP now owns 287,625 shares of the company’s stock worth $7,777,000 after purchasing an additional 85,040 shares during the last quarter. Denali Advisors LLC lifted its position in shares of FLEX LNG by 96.5% during the second quarter. Denali Advisors LLC now owns 158,400 shares of the company’s stock worth $4,283,000 after purchasing an additional 77,800 shares during the last quarter. Marshall Wace LLP lifted its position in shares of FLEX LNG by 184.6% during the second quarter. Marshall Wace LLP now owns 117,673 shares of the company’s stock worth $3,182,000 after purchasing an additional 76,321 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of FLEX LNG during the third quarter valued at $1,460,000. Finally, Barclays PLC grew its holdings in shares of FLEX LNG by 124.3% in the third quarter. Barclays PLC now owns 50,063 shares of the company’s stock worth $1,273,000 after purchasing an additional 27,746 shares during the last quarter.

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.