FLEX LNG (NYSE:FLNG) Sets New 52-Week Low - Should You Sell?

FLEX LNG Ltd. (NYSE:FLNG - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $20.73 and last traded at $20.56, with a volume of 26738 shares. The stock had previously closed at $21.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FLNG shares. Jefferies Financial Group reissued a "hold" rating and issued a $23.00 target price on shares of FLEX LNG in a research report on Tuesday, February 4th. Fearnley Fonds upgraded FLEX LNG to a "hold" rating in a research report on Monday, February 17th.

FLEX LNG Trading Up 5.1 %

The stock has a market cap of $1.14 billion, a PE ratio of 9.78 and a beta of 0.42. The company's fifty day moving average is $23.03 and its 200-day moving average is $24.00. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96.

FLEX LNG (NYSE:FLNG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same quarter last year, the company posted $0.70 earnings per share. On average, analysts predict that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

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FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 14.12%. FLEX LNG's payout ratio is 137.61%.

Hedge Funds Weigh In On FLEX LNG

Several large investors have recently made changes to their positions in FLNG. Steward Partners Investment Advisory LLC increased its holdings in FLEX LNG by 27.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company's stock valued at $59,000 after buying an additional 558 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in FLEX LNG by 6.3% in the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company's stock worth $231,000 after purchasing an additional 600 shares during the period. Atria Wealth Solutions Inc. grew its holdings in FLEX LNG by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock valued at $516,000 after purchasing an additional 666 shares during the period. Quadrant Capital Group LLC increased its position in shares of FLEX LNG by 465.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock valued at $26,000 after buying an additional 941 shares in the last quarter. Finally, WFA Asset Management Corp raised its stake in shares of FLEX LNG by 106.8% during the 4th quarter. WFA Asset Management Corp now owns 2,068 shares of the company's stock worth $47,000 after buying an additional 1,068 shares during the period.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.