SFL (NYSE:SFL) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

SFL Corporation Ltd. (NYSE:SFL)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.07 and traded as high as $12.54. SFL shares last traded at $12.4450, with a volume of 1,422,195 shares.

Analyst Ratings Changes

SFL has been the subject of several recent analyst reports. BTIG Research upped their target price on shares of SFL from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Wall Street Zen cut shares of SFL from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SFL in a research report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, SFL presently has an average rating of “Moderate Buy” and an average target price of $14.00.

SFL Stock Down 0.3%

The firm has a fifty day simple moving average of $11.41 and a 200-day simple moving average of $11.07. The company has a market capitalization of $1.80 billion, a P/E ratio of 51.86 and a beta of 0.43. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.84.

Hedge Funds Weigh In On SFL

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new stake in SFL during the 2nd quarter worth approximately $424,000. Philadelphia Investment Partners LLC bought a new position in SFL in the second quarter valued at approximately $401,000. Empowered Funds LLC boosted its holdings in shares of SFL by 3.9% in the first quarter. Empowered Funds LLC now owns 685,833 shares of the shipping company’s stock valued at $7,400,000 after buying an additional 25,820 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of SFL by 9.7% in the first quarter. Quantinno Capital Management LP now owns 68,731 shares of the shipping company’s stock valued at $742,000 after buying an additional 6,054 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of SFL during the first quarter worth $310,000. 28.59% of the stock is currently owned by institutional investors and hedge funds.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.