Flex LNG (NYSE:FLNG) Stock Rating Lowered by Wall Street Zen

Flex LNG (NYSE:FLNG) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

FLNG has been the topic of several other research reports. Pareto Securities downgraded shares of Flex LNG from a “buy” rating to a “sell” rating in a report on Wednesday, May 13th. Kepler Capital Markets set a $25.00 target price on Flex LNG and gave the stock a “reduce” rating in a report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Flex LNG in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flex LNG currently has a consensus rating of “Reduce” and an average price target of $24.00.

Flex LNG Stock Down 0.1%

FLNG stock opened at $30.63 on Friday. The stock has a market capitalization of $1.66 billion, a PE ratio of 21.88 and a beta of 0.20. Flex LNG has a 52 week low of $22.62 and a 52 week high of $33.40. The company has a quick ratio of 2.69, a current ratio of 2.72 and a debt-to-equity ratio of 2.45. The firm has a 50 day moving average of $30.59 and a 200 day moving average of $29.22.

Flex LNG (NYSE:FLNG) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $80.46 million for the quarter, compared to analyst estimates of $80.35 million. Flex LNG had a net margin of 22.26% and a return on equity of 12.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Wealth Management LLC purchased a new stake in shares of Flex LNG during the 1st quarter worth about $26,000. Main Street Group LTD purchased a new position in shares of Flex LNG in the 1st quarter valued at about $30,000. First Community Trust NA purchased a new position in shares of Flex LNG in the 4th quarter valued at about $31,000. Financial Life Planners purchased a new position in shares of Flex LNG in the 1st quarter valued at about $43,000. Finally, Kestra Advisory Services LLC acquired a new position in Flex LNG in the 4th quarter worth about $43,000.

About Flex LNG

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.