Investors Buy Large Volume of Call Options on Flex (FLEX)
Flex Ltd (NASDAQ:FLEX) saw unusually large options trading on Thursday. Stock traders acquired 5,036 call options on the company. This represents an increase of approximately 938% compared to the average daily volume of 485 call options.
NASDAQ:FLEX opened at $10.31 on Friday. Flex has a 1 year low of $6.74 and a 1 year high of $18.40. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.30 and a beta of 1.79.
Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 30th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Flex had a return on equity of 4.47% and a net margin of 0.52%. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Flex will post 0.66 earnings per share for the current year.
A number of research firms have recently weighed in on FLEX. BidaskClub downgraded Flex from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine cut Flex from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Zacks Investment Research raised Flex from a “strong sell” rating to a “hold” rating in a research note on Monday, December 31st. Wolfe Research started coverage on Flex in a research note on Tuesday, December 11th. They set a “market perform” rating for the company. Finally, JPMorgan Chase & Co. cut Flex from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $12.00 in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $15.17.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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