New Fortress Energy Sees Unusually High Options Volume (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) was the recipient of some unusual options trading activity on Thursday. Traders acquired 13,429 put options on the stock. This is an increase of 70% compared to the average daily volume of 7,886 put options.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus decreased their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research report on Wednesday, December 4th. Finally, Morgan Stanley reduced their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.60.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NFE. JPMorgan Chase & Co. boosted its stake in shares of New Fortress Energy by 2.0% in the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock worth $730,000 after buying an additional 935 shares during the last quarter. US Bancorp DE lifted its holdings in New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after acquiring an additional 1,126 shares during the period. KBC Group NV boosted its position in New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after purchasing an additional 1,852 shares during the last quarter. Allworth Financial LP grew its stake in New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after purchasing an additional 1,962 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock opened at $9.69 on Friday. New Fortress Energy has a 52 week low of $7.82 and a 52 week high of $34.40. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The business has a 50 day moving average price of $13.48 and a 200-day moving average price of $11.58. The company has a market cap of $2.64 billion, a PE ratio of 10.65 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Equities analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

About New Fortress Energy

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.