FLEX LNG Ltd. (NYSE:FLNG) Sees Significant Growth in Short Interest

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.

FLEX LNG Stock Down 2.0 %

FLNG stock traded down $0.54 on Tuesday, hitting $26.12. 588,293 shares of the company’s stock were exchanged, compared to its average volume of 306,423. FLEX LNG has a 12-month low of $24.16 and a 12-month high of $32.23. The company has a quick ratio of 2.54, a current ratio of 2.57 and a debt-to-equity ratio of 2.01. The firm has a 50 day moving average price of $26.76 and a two-hundred day moving average price 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 paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $3.00 annualized dividend and a dividend yield of 11.49%. FLEX LNG’s payout ratio is currently 118.11%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On FLEX LNG

Large investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its holdings in FLEX LNG by 3.9% in the second quarter. Cetera Investment Advisers now owns 68,885 shares of the company’s stock valued at $1,863,000 after acquiring an additional 2,585 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of FLEX LNG by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock valued at $296,000 after purchasing an additional 652 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of FLEX LNG by 7.7% in the 2nd quarter. Squarepoint Ops LLC now owns 11,326 shares of the company’s stock valued at $306,000 after purchasing an additional 806 shares in the last quarter. Marshall Wace LLP increased its stake in shares of FLEX LNG by 184.6% in the 2nd quarter. Marshall Wace LLP now owns 117,673 shares of the company’s stock valued at $3,182,000 after purchasing an additional 76,321 shares in the last quarter. Finally, Beck Capital Management LLC increased its stake in shares of FLEX LNG by 0.8% in the 2nd quarter. Beck Capital Management LLC now owns 111,308 shares of the company’s stock valued at $3,010,000 after purchasing an additional 911 shares in the last quarter.

About FLEX LNG

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.