FLEX LNG Ltd. (NYSE:FLNG) Sees Large Growth in Short Interest

FLEX LNG Ltd. (NYSE:FLNG) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,170,000 shares, a growth of 5.9% from the October 15th total of 2,050,000 shares. Currently, 7.1% of the company’s stock are short sold. Based on an average daily trading volume, of 276,600 shares, the days-to-cover ratio is presently 7.8 days.

Institutional Trading of FLEX LNG

A number of hedge funds have recently bought and sold shares of FLNG. HHM Wealth Advisors LLC bought a new position in shares of FLEX LNG in the 2nd quarter worth approximately $47,000. GAMMA Investing LLC boosted its stake in shares of FLEX LNG by 6,254.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after acquiring an additional 1,939 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of FLEX LNG during the 2nd quarter valued at $81,000. Redwood Wealth Management Group LLC purchased a new stake in shares of FLEX LNG in the 2nd quarter worth $98,000. Finally, FMR LLC raised its holdings in FLEX LNG by 39.4% in the 3rd quarter. FMR LLC now owns 7,348 shares of the company’s stock worth $189,000 after purchasing an additional 2,075 shares during the period.

FLEX LNG Trading Up 1.2 %

Shares of FLEX LNG stock traded up $0.31 on Tuesday, reaching $26.25. The company’s stock had a trading volume of 107,134 shares, compared to its average volume of 302,268. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 1.97. FLEX LNG has a 52 week low of $22.80 and a 52 week high of $31.78. The firm’s fifty day simple moving average is $25.40 and its two-hundred day simple moving average is $26.55.

FLEX LNG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 27th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.43%. FLEX LNG’s dividend payout ratio (DPR) is currently 176.47%.

Wall Street Analysts Forecast Growth

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

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.