Short Interest in SFL Corporation Ltd. (NYSE:SFL) Declines By 26.7%

SFL Corporation Ltd. (NYSE:SFL) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 3,246,734 shares, a decrease of 26.7% from the December 15th total of 4,426,862 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,098,070 shares, the days-to-cover ratio is currently 3.0 days. Based on an average daily trading volume, of 1,098,070 shares, the days-to-cover ratio is currently 3.0 days. Currently, 2.2% of the shares of the stock are sold short.

SFL Trading Down 2.5%

NYSE:SFL traded down $0.21 during midday trading on Monday, reaching $8.26. 1,279,556 shares of the stock traded hands, compared to its average volume of 1,057,354. The stock has a market capitalization of $1.20 billion, a P/E ratio of -826.00 and a beta of 0.47. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.42 and a current ratio of 0.42. The company has a fifty day moving average of $8.08 and a 200 day moving average of $8.14. SFL has a 12 month low of $6.73 and a 12 month high of $11.13.

SFL (NYSE:SFL) last released its quarterly earnings data on Wednesday, November 12th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The firm had revenue of $178.21 million for the quarter, compared to analysts’ expectations of $172.45 million. SFL had a negative net margin of 0.20% and a positive return on equity of 3.05%. The company’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share.

SFL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Friday, December 12th were issued a $0.20 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.80 annualized dividend and a yield of 9.7%. SFL’s dividend payout ratio (DPR) is -8,000.00%.

Analyst Ratings Changes

Several research analysts have commented on SFL shares. BTIG Research lifted their price target on shares of SFL from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SFL in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of SFL from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.00.

Hedge Funds Weigh In On SFL

A number of hedge funds and other institutional investors have recently made changes to their positions in SFL. Signaturefd LLC boosted its holdings in SFL by 65.3% in the second quarter. Signaturefd LLC now owns 3,392 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 1,340 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of SFL by 789.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock worth $28,000 after purchasing an additional 2,944 shares during the period. Triumph Capital Management bought a new stake in shares of SFL during the 3rd quarter valued at about $32,000. Parallel Advisors LLC increased its position in shares of SFL by 43.1% during the second quarter. Parallel Advisors LLC now owns 6,010 shares of the shipping company’s stock valued at $50,000 after buying an additional 1,810 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in SFL in the second quarter worth about $50,000. Institutional investors own 28.59% of the company’s stock.

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.