Golar LNG (NASDAQ:GLNG) Trading 14.7% Higher

Golar LNG Limited (NASDAQ:GLNG)’s stock price shot up 14.7% during trading on Thursday . The company traded as high as $7.06 and last traded at $6.94. 4,820,306 shares traded hands during mid-day trading, an increase of 185% from the average session volume of 1,692,669 shares. The stock had previously closed at $6.05.

A number of brokerages have recently weighed in on GLNG. BidaskClub lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine upgraded Golar LNG from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Bank of America lowered their price objective on Golar LNG from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, September 25th. DNB Markets upgraded Golar LNG from a “hold” rating to a “buy” rating in a report on Tuesday, September 1st. Finally, Zacks Investment Research cut Golar LNG from a “buy” rating to a “hold” rating and set a $9.00 target price for the company. in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $12.42.

The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a 50-day simple moving average of $10.20 and a 200-day simple moving average of $7.88.

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE lifted its holdings in Golar LNG by 890.6% in the second quarter. US Bancorp DE now owns 5,290 shares of the shipping company’s stock worth $38,000 after purchasing an additional 4,756 shares during the period. Bank of Montreal Can lifted its stake in shares of Golar LNG by 221.9% in the 2nd quarter. Bank of Montreal Can now owns 8,639 shares of the shipping company’s stock worth $57,000 after acquiring an additional 5,955 shares during the period. Principal Financial Group Inc. bought a new position in shares of Golar LNG in the second quarter valued at approximately $75,000. Valeo Financial Advisors LLC acquired a new position in shares of Golar LNG during the second quarter valued at approximately $78,000. Finally, Point72 Hong Kong Ltd bought a new stake in Golar LNG during the second quarter worth approximately $88,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

Golar LNG Company Profile (NASDAQ:GLNG)

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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