SFL (NYSE:SFL) Shares Gap Down – Here’s What Happened

SFL Co. Ltd. (NYSE:SFL) gapped down before the market opened on Wednesday . The stock had previously closed at $10.99, but opened at $10.40. SFL shares last traded at $10.55, with a volume of 236,781 shares traded.

Analyst Ratings Changes

Separately, Fearnley Fonds raised shares of SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st.

SFL Price Performance

The stock has a market cap of $1.43 billion, a PE ratio of 9.35 and a beta of 0.66. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93. The company’s 50 day moving average is $10.47 and its 200-day moving average is $10.93.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings in shares of SFL by 41.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company’s stock valued at $33,000 after buying an additional 950 shares during the period. Corebridge Financial Inc. boosted its holdings in shares of SFL by 2.0% in the 4th quarter. Corebridge Financial Inc. now owns 64,938 shares of the shipping company’s stock valued at $664,000 after buying an additional 1,262 shares during the period. Blue Trust Inc. boosted its holdings in shares of SFL by 64.6% in the 4th quarter. Blue Trust Inc. now owns 3,257 shares of the shipping company’s stock valued at $33,000 after buying an additional 1,278 shares during the period. The Manufacturers Life Insurance Company lifted its position in SFL by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 44,472 shares of the shipping company’s stock valued at $515,000 after purchasing an additional 1,418 shares during the last quarter. Finally, Brighton Jones LLC lifted its position in SFL by 8.2% in the 4th quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock valued at $198,000 after purchasing an additional 1,474 shares during the last quarter. 28.59% of the stock is owned by institutional investors and hedge funds.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.