Short Interest in FLEX LNG Ltd. (NYSE:FLNG) Expands By 9.3%

FLEX LNG Ltd. (NYSE:FLNG) was the target of a significant growth in short interest in August. As of August 15th, there was short interest totalling 2,000,000 shares, a growth of 9.3% from the July 31st total of 1,830,000 shares. Based on an average daily volume of 268,100 shares, the days-to-cover ratio is currently 7.5 days. Approximately 6.6% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upgraded shares of FLEX LNG from an “underperform” rating to a “hold” rating and set a $24.00 target price for the company in a report on Wednesday, August 14th.

Institutional Investors Weigh In On FLEX LNG

Large investors have recently bought and sold shares of the company. Atria Wealth Solutions Inc. boosted its position in FLEX LNG by 24.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 23,757 shares of the company’s stock worth $690,000 after purchasing an additional 4,601 shares in the last quarter. Essex Financial Services Inc. boosted its position in FLEX LNG by 8.3% in the 4th quarter. Essex Financial Services Inc. now owns 11,714 shares of the company’s stock worth $340,000 after purchasing an additional 894 shares in the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of FLEX LNG by 107.9% during the 4th quarter. Great Valley Advisor Group Inc. now owns 15,800 shares of the company’s stock valued at $459,000 after buying an additional 8,200 shares in the last quarter. Spire Wealth Management lifted its position in shares of FLEX LNG by 63.9% during the 4th quarter. Spire Wealth Management now owns 28,494 shares of the company’s stock valued at $843,000 after buying an additional 11,109 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of FLEX LNG by 24.1% during the 4th quarter. Principal Financial Group Inc. now owns 13,046 shares of the company’s stock valued at $379,000 after buying an additional 2,535 shares in the last quarter.

FLEX LNG Trading Up 1.0 %

Shares of FLNG traded up $0.27 during mid-day trading on Friday, hitting $26.66. 288,539 shares of the company traded hands, compared to its average volume of 270,006. FLEX LNG has a 1-year low of $24.16 and a 1-year high of $32.23. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.54 and a current ratio of 2.57. The business has a 50 day moving average of $26.78 and a 200 day moving average of $26.62.

FLEX LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, August 29th. This represents a $3.00 annualized dividend and a dividend yield of 11.25%. FLEX LNG’s dividend payout ratio (DPR) is currently 118.11%.

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.