Stock Traders Purchase High Volume of Golar LNG Call Options (NASDAQ:GLNG)

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Golar LNG Limited (NASDAQ:GLNG) was the target of unusually large options trading on Wednesday. Traders acquired 20,997 call options on the company. This is an increase of 830% compared to the average volume of 2,257 call options.

Several hedge funds have recently modified their holdings of GLNG. Nisa Investment Advisors LLC increased its stake in shares of Golar LNG by 368.7% in the third quarter. Nisa Investment Advisors LLC now owns 5,085 shares of the shipping company’s stock valued at $31,000 after buying an additional 4,000 shares during the period. Bank of Montreal Can increased its stake in shares of Golar LNG by 221.9% in the second quarter. Bank of Montreal Can now owns 8,639 shares of the shipping company’s stock valued at $57,000 after buying an additional 5,955 shares during the period. Blankinship & Foster LLC acquired a new stake in shares of Golar LNG in the third quarter valued at about $63,000. Principal Financial Group Inc. acquired a new stake in shares of Golar LNG in the second quarter valued at about $75,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Golar LNG in the second quarter valued at about $88,000. 54.43% of the stock is owned by institutional investors.

GLNG traded up $1.26 on Wednesday, reaching $13.50. The stock had a trading volume of 321,454 shares, compared to its average volume of 2,045,647. Golar LNG has a fifty-two week low of $4.54 and a fifty-two week high of $15.24. The firm has a 50-day moving average of $9.67 and a 200-day moving average of $8.89. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.15 and a quick ratio of 0.15.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Sunday, November 29th. The shipping company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). Golar LNG had a positive return on equity of 0.73% and a negative net margin of 55.97%. Analysts anticipate that Golar LNG will post -0.45 earnings per share for the current fiscal year.

Several analysts recently issued reports on GLNG shares. Bank of America reduced their price target on Golar LNG from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, September 25th. ValuEngine upgraded Golar LNG from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Finally, BidaskClub upgraded Golar LNG from a “sell” rating to a “hold” rating in a research report on Wednesday, October 7th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $12.42.

Golar LNG Company Profile

Golar LNG Limited provides infrastructure for the liquefaction, transportation, regasification, and downstream distribution 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, FLNG, and floating storage regasification units (FSRUs); and the development of gas to power projects, as well as LNG distribution operations.

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