FLEX LNG (NYSE:FLNG) Shares Gap Up to $18.30

FLEX LNG Ltd. (NYSE:FLNG)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $18.30, but opened at $18.94. FLEX LNG shares last traded at $18.90, with a volume of 215 shares traded.

The company’s 50 day moving average price is $16.28 and its two-hundred day moving average price is $14.11. The firm has a market cap of $1.00 billion, a PE ratio of 10.96 and a beta of 1.55. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 1.83.

FLEX LNG (NYSE:FLNG) last issued its quarterly earnings results on Tuesday, August 17th. The company reported $0.29 earnings per share for the quarter. The business had revenue of $65.84 million for the quarter. FLEX LNG had a net margin of 36.19% and a return on equity of 8.94%.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 16th. Stockholders of record on Thursday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 1st. This represents a $1.60 annualized dividend and a dividend yield of 8.51%.

Several hedge funds have recently made changes to their positions in FLNG. Lazard Asset Management LLC bought a new stake in shares of FLEX LNG during the 2nd quarter valued at $27,000. Advisory Services Network LLC bought a new stake in FLEX LNG in the 2nd quarter valued at $59,000. Morgan Stanley lifted its stake in FLEX LNG by 255.9% in the 2nd quarter. Morgan Stanley now owns 4,000 shares of the company’s stock worth $59,000 after purchasing an additional 2,876 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of FLEX LNG by 2,343.7% during the 2nd quarter. Citigroup Inc. now owns 8,284 shares of the company’s stock valued at $120,000 after purchasing an additional 7,945 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new position in shares of FLEX LNG during the second quarter valued at about $180,000. Hedge funds and other institutional investors own 18.33% of the company’s stock.

About FLEX LNG (NYSE:FLNG)

FLEX LNG Ltd. engages in the operation of carrier vessels. It focuses on the engineering and construction of liquefied natural gas producer units. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in August 2006 and is headquartered in Hamilton, Bermuda.

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