FLEX LNG (NYSE:FLNG) Downgraded by SEB Equity Research to “Hold”

FLEX LNG (NYSE:FLNGGet Rating) was downgraded by research analysts at SEB Equity Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Stock Target Advisor reports.

FLNG has been the subject of several other reports. SEB Equities cut FLEX LNG from a “buy” rating to a “hold” rating in a report on Wednesday. DNB Markets lowered FLEX LNG from a “buy” rating to a “hold” rating in a research report on Monday, May 9th.

FLNG stock traded down $2.41 during trading on Wednesday, hitting $29.61. 25,688 shares of the company traded hands, compared to its average volume of 571,653. The firm has a market capitalization of $1.58 billion, a PE ratio of 9.22 and a beta of 1.15. FLEX LNG has a 1 year low of $12.50 and a 1 year high of $33.36. The company has a 50-day moving average of $28.54 and a 200-day moving average of $24.36. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.52 and a current ratio of 1.57.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI bought a new position in shares of FLEX LNG in the 1st quarter worth approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of FLEX LNG by 396.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,020 shares of the company’s stock worth $44,000 after acquiring an additional 1,613 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of FLEX LNG by 104.2% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 4,665 shares of the company’s stock worth $133,000 after acquiring an additional 2,380 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of FLEX LNG by 8.0% in the 3rd quarter. Hsbc Holdings PLC now owns 32,939 shares of the company’s stock worth $588,000 after acquiring an additional 2,449 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of FLEX LNG by 135.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,749 shares of the company’s stock worth $134,000 after acquiring an additional 2,729 shares in the last quarter. 15.88% of the stock is owned by institutional investors and hedge funds.

FLEX LNG Company Profile (Get Rating)

Flex LNG Ltd., through its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. As of February 16, 2022, it owned and operated nine M-type electronically controlled gas injection LNG carriers; and four vessels with generation X dual fuel propulsion systems. It also provides chartering and management services.

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