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

New Fortress Energy LLC (NASDAQ:NFE) saw unusually large options trading on Tuesday. Stock investors purchased 66,582 call options on the company. This represents an increase of approximately 361% compared to the average volume of 14,453 call options.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock traded up $0.17 during trading on Tuesday, hitting $1.35. 81,769,514 shares of the company’s stock were exchanged, compared to its average volume of 11,737,323. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.64 and a current ratio of 0.67. The business has a 50-day simple moving average of $2.01 and a 200-day simple moving average of $3.05. New Fortress Energy has a 52-week low of $1.17 and a 52-week high of $16.66. The stock has a market capitalization of $384.14 million, a price-to-earnings ratio of -0.35 and a beta of 1.20.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Wednesday, June 18th. The company reported $0.13 earnings per share for the quarter. The firm had revenue of $679.00 million for the quarter. New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. On average, research analysts forecast that New Fortress Energy will post 0.36 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NFE shares. Johnson Rice cut New Fortress Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $7.00 to $4.00 in a research note on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of New Fortress Energy in a report on Tuesday, October 14th. Capital One Financial restated an “underweight” rating on shares of New Fortress Energy in a report on Monday, September 8th. Finally, Zacks Research downgraded shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.88.

Institutional Trading of New Fortress Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in New Fortress Energy by 22.6% during the 1st quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company’s stock worth $115,339,000 after buying an additional 2,560,242 shares during the period. American Assets Investment Management LLC boosted its position in shares of New Fortress Energy by 888.8% in the first quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company’s stock valued at $15,449,000 after acquiring an additional 1,671,094 shares during the period. Norges Bank acquired a new position in New Fortress Energy during the second quarter worth $5,278,000. Geode Capital Management LLC boosted its holdings in New Fortress Energy by 71.2% in the second quarter. Geode Capital Management LLC now owns 3,661,857 shares of the company’s stock valued at $12,159,000 after acquiring an additional 1,522,324 shares during the last quarter. Finally, Shay Capital LLC boosted its holdings in New Fortress Energy by 7,990.2% in the second quarter. Shay Capital LLC now owns 1,525,000 shares of the company’s stock valued at $5,063,000 after acquiring an additional 1,506,150 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

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.