The trading price of Golar LNG Limited (NASDAQ:GLNG) closed higher on Tuesday, July 20, closing at $11.73, 7.22% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $10.865 and $11.825. In examining the 52-week price action we see that the stock hit a 52-week high of $15.12 and a 52-week low of $5.66. Over the past month, the stock has lost -9.35% in value.
Golar LNG Limited, whose market valuation is $1.33 billion at the time of this writing, is expected to release its quarterly earnings report Aug 11, 2021 – Aug 16, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.01 per share this quarter, however they have predicted annual earnings per share of $0.07 for 2021 and $0.06 for 2022. It means analysts are expecting annual earnings per share growth of 103.00% this year and -14.30% next year.
Analysts have forecast the company to bring in revenue of $102.79 million for the current quarter, with the likely lows of $90.8 million and highs of $112.7 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $427.89 million. The company’s revenue is forecast to drop by -2.50% over what it did in 2021.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Golar LNG Limited No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest GLNG has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned GLNG a recommendation rating is 15. Out of them, 1 rate it a Hold, while 13 recommend Buy, whereas 0 assign an Overweight rating. 1 analyst(s) have tagged Golar LNG Limited (GLNG) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that GLNG’s price is currently -8.96% off the SMA20 and -6.38% off the SMA50. The RSI metric on the 14-day chart is currently showing 40.44, and weekly volatility stands at 5.66%. When measured over the past 30 days, the indicator reaches 3.97%. Golar LNG Limited (NASDAQ:GLNG)’s beta value is currently sitting at 0.92, while the Average True Range indicator is currently displaying 0.57. With analysts defining $11.00-$21.00 as the low and high price targets, we arrive at a consensus price target of $17.97 for the trailing 12-month period. The current price is about 6.22% off the estimated low and -79.03% off the forecast high, based on this estimate. Investors will be thrilled if GLNG’s share price rises to $18.00, which is the median consensus price. At that level, GLNG’s share price would be -53.45% below current price.
To see how Golar LNG Limited stock has been performing in comparison to its peers in the industry, here are the numbers: GLNG stock’s performance was 7.22% in the latest trading, and 67.81% in the past year, while Teekay LNG Partners L.P. (TGP) has traded 1.71% on the day and positioned 27.43% higher than it was a year ago. Another comparable company Teekay Corporation (TK) saw its stock close 4.47% higher in the most recent trading session but was up 30.47% in a year. Furthermore, Teekay Tankers Ltd. (TNK) showed a decrease of -0.08% on the day while its price kept declining at -10.83% over the past year. Golar LNG Limited has a P/E ratio of 0, compared to Teekay LNG Partners L.P.’s 6.88 and Teekay Corporation’s 0. Also in last trading session, the S&P 500 Index has surged 1.52%, while the Dow Jones Industrial also saw a positive session, up 1.62% on the day.
An evaluation of the daily trading volume of Golar LNG Limited (NASDAQ:GLNG) indicates that the 3-month average is 1.41 million. However, this figure has increased over the past 10 days to an average of 0.91 million.
Currently, records show that 109.98 million of the company’s shares remain outstanding. The insiders hold 46.50% of outstanding shares, whereas institutions hold 73.90%. The stats also highlight that short interest as of Jun 14, 2021, stood at 4.46 million shares, resulting in a short ratio of 2.53 at that time. From this, we can conclude that short interest is 4.06% of the company’s total outstanding shares. It is noteworthy that short shares in June were down slightly from the previous month’s figure, which was 4.74 million. However, since the stock’s price has seen 21.68% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.