FLEX LNG (NYSE:FLNG) Rating Increased to Hold at Fearnley Fonds

FLEX LNG (NYSE:FLNG - Get Free Report) was upgraded by analysts at Fearnley Fonds to a "hold" rating in a report released on Monday,Zacks.com reports.

Separately, Jefferies Financial Group reiterated a "hold" rating and set a $23.00 price objective on shares of FLEX LNG in a report on Tuesday, February 4th.

FLEX LNG Stock Up 1.6 %

Shares of NYSE FLNG traded up $0.37 during mid-day trading on Monday, reaching $23.29. 568,859 shares of the company's stock traded hands, compared to its average volume of 476,043. The stock has a market cap of $1.25 billion, a P/E ratio of 10.68 and a beta of 0.70. The business has a 50-day simple moving average of $24.24 and a 200 day simple moving average of $24.99. FLEX LNG has a 1-year low of $20.85 and a 1-year high of $30.48. 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 issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same quarter in the previous year, the company earned $0.70 earnings per share. On average, analysts expect that FLEX LNG will post 1.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in FLEX LNG by 33.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,192 shares of the company's stock worth $601,000 after purchasing an additional 6,595 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in FLEX LNG during the fourth quarter worth about $477,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in FLEX LNG by 10.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,014 shares of the company's stock worth $9,630,000 after purchasing an additional 39,572 shares during the last quarter. Janus Henderson Group PLC boosted its stake in FLEX LNG by 17.7% in the fourth quarter. Janus Henderson Group PLC now owns 299,864 shares of the company's stock valued at $6,717,000 after acquiring an additional 45,037 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in FLEX LNG in the fourth quarter valued at about $385,000.

FLEX LNG Company Profile

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.