In yesterday’s Wall Street session, FLEX LNG Ltd. (NYSE:FLNG) shares traded at $32.38, up 1.76% from the previous session.
As of this writing, 9 analysts cover FLEX LNG Ltd. (NYSE:FLNG). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $40.01 and a low of $30.08, we find $34.85. Given the previous closing price of $31.82, this indicates a potential upside of 9.52 percent. FLNG stock price is now -4.57% away from the 50-day moving average and 5.05% away from the 200-day moving average. The market capitalization of the company currently stands at $1.74B.
There are 7 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $34.61 as their price target over the next twelve months.
With the price target of $26, Jefferies recently initiated with Hold rating for FLEX LNG Ltd. (NYSE: FLNG).
A total of 46.84% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FLNG stock. A new stake in FLEX LNG Ltd. shares was purchased by PENSERRA CAPITAL MANAGEMENT LLC during the first quarter worth $4,003,000. BRIDGEWAY CAPITAL MANAGEMENT, LLC invested $2,924,000 in shares of FLNG during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in FLEX LNG Ltd. valued at approximately $1,665,000. CITADEL ADVISORS LLC acquired a new stake in FLNG for approximately $1,302,000. JENKINS WEALTH purchased a new stake in FLNG valued at around $1,094,000 in the second quarter. In total, there are 181 active investors with 25.28% ownership of the company’s stock.
Friday morning saw FLEX LNG Ltd. (NYSE: FLNG) opened at $32.14. During the past 12 months, FLEX LNG Ltd. has had a low of $16.40 and a high of $38.24. The fifty day moving average price for FLNG is $33.88 and a two-hundred day moving average price translates $31.08 for the stock.
The latest earnings results from FLEX LNG Ltd. (NYSE: FLNG) was released for Jun, 2022. The company reported revenue of $84.16 million for the quarter, compared to $65.84 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 27.82 percent.
Moreover, the firm recently paid out its quarterly dividend on 09/13/2022. Investors who held shares on 09/08/2022 were paid a $0.50 dividend.
FLEX LNG Ltd.(FLNG) Company Profile
Flex LNG Ltd., through its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. As of February 16, 2022, it owned and operated nine M-type electronically controlled gas injection LNG carriers; and four vessels with generation X dual fuel propulsion systems. It also provides chartering and management services. Flex LNG Ltd. was incorporated in 2006 and is based in Hamilton, Bermuda.