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

New Fortress Energy LLC (NASDAQ:NFE) was the target of some unusual options trading activity on Friday. Investors acquired 51,229 call options on the company. This represents an increase of 179% compared to the average volume of 18,336 call options.

Wall Street Analyst Weigh In

NFE has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of New Fortress Energy in a report on Monday, December 29th. Zacks Research downgraded New Fortress Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.88.

New Fortress Energy Stock Performance

NASDAQ:NFE traded up $0.08 during trading hours on Friday, reaching $1.78. 32,659,473 shares of the company’s stock were exchanged, compared to its average volume of 11,706,373. New Fortress Energy has a 1-year low of $0.98 and a 1-year high of $16.50. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $505.08 million, a price-to-earnings ratio of -0.46 and a beta of 1.05. The company has a 50-day moving average of $1.26 and a 200 day moving average of $2.02.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Thursday, January 1st. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.40). The company had revenue of $327.37 million for the quarter, compared to analysts’ expectations of $716.89 million. New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.New Fortress Energy’s revenue for the quarter was down 42.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS. Research analysts anticipate that New Fortress Energy will post 0.36 EPS for the current year.

Institutional Trading of New Fortress Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC purchased a new position in shares of New Fortress Energy in the first quarter valued at $390,000. Goldman Sachs Group Inc. grew its stake in shares of New Fortress Energy by 133.4% during the first quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company’s stock valued at $7,195,000 after acquiring an additional 494,848 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of New Fortress Energy by 42.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 280,706 shares of the company’s stock worth $2,333,000 after acquiring an additional 83,279 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of New Fortress Energy by 166.3% in the second quarter. IFP Advisors Inc now owns 9,072 shares of the company’s stock worth $30,000 after acquiring an additional 5,665 shares in the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in New Fortress Energy in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Company Profile

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.