FLNG Stock Summary and Trading Ideas (Flex Lng Ltd. | NYSE:FLNG)

Flex LNG Ltd is an LNG shipping company with a fleet of next-generation LNG carriers with large cargo capacity. The fleet consists of thirteen modern LNG ships, ten existing and three under construction for delivery. All LNG carriers are equipped with slow-speed, two-stroke engines MEGI or X-DF propulsion which will provide Charterers with state-of-the-art tonnage offering significant advantages in form of reduced fuel consumption and lowered boil-off rates.

Flex Lng Ltd. trades on the NYSE stock market under the symbol FLNG.

As of April 19, 2024, FLNG stock price climbed to $25.81 with 119,243 million shares trading.

FLNG has a beta of 0.08, meaning it tends to be less sensitive to market movements. FLNG has a correlation of 0.00 to the broad based SPY ETF.

FLNG has a market cap of $1.39 billion. This is considered a Small Cap stock.

Last quarter Flex Lng Ltd. reported $97 million in Revenue and $.70 earnings per share. This fell short of revenue expectation by $-1 million and exceeded earnings estimates by $.03.

In the last 3 years, FLNG stock traded as high as $38.24 and as low as $10.55.

The top ETF exchange traded funds that FLNG belongs to (by Net Assets): IWM, IWO, VTWO, IWN, VTWG.

FLNG has underperformed the market in the last year with a return of -18.8%, while the SPY ETF gained +21.1%. In the last 3 month period, FLNG fell short of the market, returning -10.5%, while SPY returned +4.2%. However, in the most recent 2 weeks FLNG has outperformed the stock market by returning -0.3%, while SPY returned -3.5%.

FLNG support price is $25.12 and resistance is $25.64 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FLNG stock will trade within this expected range on the day.