FLEX LNG Ltd. (NYSE:FLNG) Short Interest Up 46.7% in April


FLEX LNG Ltd. (NYSE: FLNGGet a rating) was the target of significant short-term interest growth in April. As of April 15, there was short interest totaling 755,300 shares, up 46.7% from the March 31 total of 515,000 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average trading volume of 583,000 shares, the short interest ratio is currently 1.3 days.

FLNG traded down $0.69 in Friday’s trading, hitting $28.10. The company’s shares had a trading volume of 526,038 shares, compared to an average volume of 596,090. The company has a quick ratio of 1.66, a current ratio of 1.71 and a leverage ratio of 1, 74. FLEX LNG has a 1-year low of $11.61 and a 1-year high of $32.77. The company has a market capitalization of $1.50 billion, a PE ratio of 9.24 and a beta of 1.21. The company’s 50-day simple moving average is $25.79 and its 200-day simple moving average is $22.93.

FLEX LNG (NYSE: FLNGGet a rating) last released its quarterly results on Wednesday, February 16. The company reported earnings per share of $1.18 for the quarter. FLEX LNG posted a net margin of 47.23% and a return on equity of 16.71%. The company had revenue of $114.59 million for the quarter.

The company also recently declared a quarterly dividend, which was paid on Friday, March 18. Shareholders of record on Wednesday, March 2 received a dividend of $0.75. The ex-dividend date was Tuesday, March 1. This represents an annualized dividend of $3.00 and a yield of 10.68%. The payout ratio of FLEX LNG is currently 98.68%.

A number of institutional investors and hedge funds have recently increased or reduced their holdings in FLNG. Acadian Asset Management LLC increased its position in FLEX LNG by 88.4% in the fourth quarter. Acadian Asset Management LLC now owns 1,316,604 shares of the company worth $29,382,000 after acquiring an additional 617,721 shares during the period. EAM Global Investors LLC purchased a new equity stake in FLEX LNG in the fourth quarter valued at $10,091,000. JPMorgan Chase & Co. increased its stake in FLEX LNG shares by 63.1% in the fourth quarter. JPMorgan Chase & Co. now owns 435,448 shares of the company worth $10,229,000 after buying an additional 168,547 shares last quarter. Barclays PLC increased its stake in FLEX LNG shares by 402.7% in the fourth quarter. Barclays PLC now owns 170,606 shares in the company worth $4,008,000 after buying a further 136,669 shares last quarter. Finally, Renaissance Technologies LLC increased its stake in FLEX LNG shares by 330.9% in the third quarter. Renaissance Technologies LLC now owns 157,376 shares of the company worth $2,813,000 after purchasing an additional 120,853 shares in the last quarter. Institutional investors and hedge funds hold 15.88% of the company’s shares.

FLEX LNG Company Profile (Get a rating)

Flex LNG Ltd., through its subsidiaries, is engaged in the marine transportation of liquefied natural gas (LNG) worldwide. As of February 16, 2022, it owned and operated nine Type M electronically controlled gas injection LNG carriers; and four vessels fitted with Generation X dual-fuel propulsion systems. It also provides charter and management services.

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