FLEX LNG (NYSE:FLNG) Trading 4.7% Higher – Should You Buy?

Shares of FLEX LNG Ltd. (NYSE:FLNG) rose 4.7% on Friday . The stock traded as high as $25.80 and last traded at $25.70. Approximately 338,556 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 390,531 shares. The stock had previously closed at $24.55.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $24.00 target price on shares of FLEX LNG in a report on Tuesday, November 12th.

FLEX LNG Stock Up 6.2 %

The firm has a market capitalization of $1.40 billion, a PE ratio of 15.33 and a beta of 0.72. The business’s fifty day moving average price is $23.64 and its 200 day moving average price is $25.32. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a yield of 11.51%. FLEX LNG’s payout ratio is 176.47%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of FLEX LNG by 6,254.8% during the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after purchasing an additional 1,939 shares during the period. Redwood Wealth Management Group LLC purchased a new position in FLEX LNG during the 2nd quarter worth $98,000. FMR LLC lifted its stake in shares of 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 acquiring an additional 2,075 shares during the period. Creative Planning purchased a new stake in shares of FLEX LNG in the third quarter valued at about $206,000. Finally, Intech Investment Management LLC acquired a new position in shares of FLEX LNG during the third quarter worth about $210,000.

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.