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

New Fortress Energy Inc. (NASDAQ:NFE) saw some unusual options trading activity on Thursday. Stock traders bought 21,178 put options on the company. This represents an increase of approximately 120% compared to the typical volume of 9,628 put options.

Insider Buying and Selling at New Fortress Energy

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 37.10% of the stock is owned by insiders.

Institutional Trading of New Fortress Energy

Several hedge funds and other institutional investors have recently made changes to their positions in NFE. JPMorgan Chase & Co. lifted its holdings in New Fortress Energy by 2.0% in the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock valued at $730,000 after acquiring an additional 935 shares during the period. US Bancorp DE lifted its stake in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after purchasing an additional 1,126 shares during the period. Allworth Financial LP boosted its holdings in New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after buying an additional 1,962 shares in the last quarter. GAMMA Investing LLC grew its position in New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after buying an additional 2,370 shares during the period. Finally, Deutsche Bank AG increased its holdings in New Fortress Energy by 3.0% in the fourth quarter. Deutsche Bank AG now owns 85,206 shares of the company’s stock valued at $1,288,000 after buying an additional 2,463 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Down 16.2 %

New Fortress Energy stock opened at $9.28 on Friday. The company has a market capitalization of $2.54 billion, a P/E ratio of 10.20 and a beta of 1.58. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. New Fortress Energy has a fifty-two week low of $7.58 and a fifty-two week high of $30.80. The stock has a 50-day simple moving average of $11.99 and a 200-day simple moving average of $11.34.

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley cut their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Finally, Stifel Nicolaus lowered their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.00.

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.