SFL Corporation Ltd. (NYSE:SFL) Sees Significant Increase in Short Interest

SFL Corporation Ltd. (NYSE:SFL) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 4,575,208 shares, an increase of 24.2% from the March 31st total of 3,682,401 shares. Currently, 3.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,246,845 shares, the short-interest ratio is currently 3.7 days.

SFL Stock Up 0.5%

SFL traded up $0.06 during midday trading on Friday, hitting $11.59. The company had a trading volume of 840,414 shares, compared to its average volume of 1,056,772. SFL has a 52 week low of $6.73 and a 52 week high of $11.60. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -57.93 and a beta of 0.43. The stock’s 50 day moving average price is $10.79 and its 200 day moving average price is $9.07.

SFL (NYSE:SFL) last posted its quarterly earnings results on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share for the quarter. SFL had a negative net margin of 3.61% and a negative return on equity of 0.30%. The company had revenue of $175.51 million during the quarter, compared to the consensus estimate of $168.36 million. During the same period last year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter was down 23.1% on a year-over-year basis.

SFL Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Thursday, March 12th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Thursday, March 12th. SFL’s payout ratio is -400.00%.

Institutional Investors Weigh In On SFL

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in SFL by 789.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 2,944 shares in the last quarter. Triumph Capital Management bought a new stake in shares of SFL during the third quarter worth about $32,000. Signaturefd LLC increased its position in shares of SFL by 30.5% during the fourth quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock worth $47,000 after acquiring an additional 1,405 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of SFL during the fourth quarter worth about $47,000. Finally, Quadrant Capital Group LLC increased its position in shares of SFL by 122.3% during the fourth quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company’s stock worth $48,000 after acquiring an additional 3,377 shares in the last quarter. 28.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SFL has been the topic of several recent analyst reports. Wall Street Zen lowered shares of SFL from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings upgraded shares of SFL from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. Finally, BTIG Research boosted their target price on shares of SFL from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.00.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.