SFL (NYSE:SFL) Shares Gap Down – Here’s What Happened

SFL Co. Ltd. (NYSE:SFL)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $10.99, but opened at $10.40. SFL shares last traded at $10.55, with a volume of 236,781 shares changing hands.

Analysts Set New Price Targets

Separately, Fearnley Fonds upgraded shares of SFL from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st.

SFL Price Performance

The company has a market capitalization of $1.43 billion, a P/E ratio of 9.35 and a beta of 0.66. The business’s 50-day simple moving average is $10.47 and its 200 day simple moving average is $10.93. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93.

Institutional Trading of SFL

A number of hedge funds and other institutional investors have recently made changes to their positions in SFL. Signaturefd LLC increased its position in shares of SFL by 831.8% in the fourth quarter. Signaturefd LLC now owns 2,870 shares of the shipping company’s stock worth $29,000 after acquiring an additional 2,562 shares in the last quarter. Blue Trust Inc. increased its position in shares of SFL by 64.6% in the fourth quarter. Blue Trust Inc. now owns 3,257 shares of the shipping company’s stock worth $33,000 after acquiring an additional 1,278 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of SFL by 41.9% in the fourth quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company’s stock worth $33,000 after acquiring an additional 950 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of SFL in the third quarter worth approximately $34,000. Finally, Quarry LP increased its position in shares of SFL by 428.2% in the third quarter. Quarry LP now owns 3,967 shares of the shipping company’s stock worth $46,000 after acquiring an additional 3,216 shares in the last quarter. 28.59% of the stock is currently owned by institutional investors.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.