Golar LNG Limited (NASDAQ:GLNG) Short Interest Update

Golar LNG Limited (NASDAQ:GLNG) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 7,351,500 shares, a drop of 11.0% from the July 31st total of 8,261,700 shares. Approximately 8.0% of the shares of the company are sold short. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is presently 6.9 days.

Shares of GLNG traded up $0.51 on Friday, reaching $13.14. The company’s stock had a trading volume of 1,618,800 shares, compared to its average volume of 1,093,371. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $1.29 billion, a P/E ratio of -34.58 and a beta of 0.76. The stock’s 50 day simple moving average is $13.60 and its two-hundred day simple moving average is $17.97. Golar LNG has a 12-month low of $11.07 and a 12-month high of $30.29.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, August 29th. The shipping company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.28). The business had revenue of $82.32 million during the quarter, compared to analysts’ expectations of $85.10 million. Golar LNG had a negative return on equity of 4.26% and a negative net margin of 77.74%. Analysts expect that Golar LNG will post -1.16 earnings per share for the current year.

A number of analysts have recently issued reports on GLNG shares. Cowen reaffirmed an “outperform” rating and set a $22.00 price target (down previously from $30.00) on shares of Golar LNG in a report on Tuesday, June 25th. Citigroup set a $15.00 price target on shares of Golar LNG and gave the company a “buy” rating in a report on Friday, August 30th. Bank of America set a $19.00 price target on shares of Golar LNG and gave the company a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus dropped their price target on shares of Golar LNG from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, B. Riley set a $30.00 price target on shares of Golar LNG and gave the company a “buy” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $27.33.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Bank & Trust Co purchased a new position in shares of Golar LNG in the second quarter worth approximately $43,000. Resources Investment Advisors LLC. purchased a new position in shares of Golar LNG in the second quarter worth approximately $55,000. Nisa Investment Advisors LLC boosted its holdings in shares of Golar LNG by 674.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,445 shares of the shipping company’s stock worth $64,000 after buying an additional 3,000 shares during the last quarter. Aperio Group LLC purchased a new position in Golar LNG during the second quarter valued at approximately $92,000. Finally, Advisor Group Inc. lifted its holdings in Golar LNG by 86.2% during the second quarter. Advisor Group Inc. now owns 5,547 shares of the shipping company’s stock valued at $103,000 after purchasing an additional 2,568 shares in the last quarter. 68.91% of the stock is currently owned by institutional investors.

About Golar LNG

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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