FLEX LNG Ltd. (NYSE:FLNG – Get Free Report) 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.
Check Out Our Latest Stock Analysis on FLNG
Institutional Investors Weigh In On FLEX LNG
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.
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