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

New Fortress Energy Inc. (NASDAQ:NFE) saw unusually large options trading activity on Thursday. Stock traders acquired 26,903 put options on the company. This is an increase of approximately 181% compared to the typical daily volume of 9,589 put options.

Wall Street Analysts Forecast Growth

NFE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a report on Wednesday, March 12th. Stifel Nicolaus cut their target price on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley cut their target price on shares of 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, Citigroup cut their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Insiders Place Their Bets

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at $1,771,016.21. The trade was a 2.48% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 29.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors have recently made changes to their positions in the stock. Hood River Capital Management LLC purchased a new stake in shares of New Fortress Energy in the 4th quarter worth about $155,023,000. Capital World Investors raised its stake in New Fortress Energy by 87.9% in the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC raised its stake in New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after purchasing an additional 4,509,177 shares during the last quarter. Vanguard Group Inc. raised its stake in New Fortress Energy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after purchasing an additional 2,728,191 shares during the last quarter. Finally, American Assets Investment Management LLC raised its stake in New Fortress Energy by 888.8% in the 1st quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company’s stock valued at $15,449,000 after purchasing an additional 1,671,094 shares during the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Stock Performance

Shares of NFE opened at $2.66 on Friday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The stock has a market capitalization of $728.23 million, a P/E ratio of 2.92 and a beta of 1.45. The company’s fifty day moving average is $6.97 and its two-hundred day moving average is $10.37. New Fortress Energy has a 1 year low of $2.26 and a 1 year high of $27.65.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, sell-side analysts predict that New Fortress Energy will post 0.36 earnings per share for the current 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.