New Fortress Energy Target of Unusually Large Options Trading (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) saw some unusual options trading activity on Thursday. Stock investors bought 13,766 call options on the stock. This represents an increase of 69% compared to the typical daily volume of 8,129 call options.

Institutional Trading of New Fortress Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp bought a new stake in New Fortress Energy during the third quarter valued at about $990,000. Vontobel Holding Ltd. bought a new stake in shares of New Fortress Energy in the 3rd quarter valued at about $511,000. Pinnacle Associates Ltd. purchased a new position in shares of New Fortress Energy in the 3rd quarter worth approximately $890,000. American Assets Investment Management LLC raised its stake in shares of New Fortress Energy by 101.6% during the 3rd quarter. American Assets Investment Management LLC now owns 114,065 shares of the company’s stock worth $1,037,000 after acquiring an additional 57,479 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in New Fortress Energy during the third quarter valued at approximately $628,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. BTIG Research cut their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Stifel Nicolaus lifted their target price on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.40.

New Fortress Energy Price Performance

Shares of NFE stock opened at $16.30 on Friday. New Fortress Energy has a twelve month low of $7.82 and a twelve month high of $37.58. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The stock has a fifty day simple moving average of $11.09 and a two-hundred day simple moving average of $13.56. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 17.91 and a beta of 1.60.

New Fortress Energy Company Profile

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.