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

New Fortress Energy LLC (NASDAQ:NFE) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 62,318 call options on the company. This represents an increase of approximately 428% compared to the typical volume of 11,792 call options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its position in New Fortress Energy by 166.3% during the second quarter. IFP Advisors Inc now owns 9,072 shares of the company’s stock worth $30,000 after buying an additional 5,665 shares during the period. Apollon Wealth Management LLC acquired a new stake in shares of New Fortress Energy in the second quarter valued at approximately $33,000. MQS Management LLC acquired a new stake in shares of New Fortress Energy in the second quarter valued at approximately $33,000. Osaic Holdings Inc. grew its position in shares of New Fortress Energy by 244.7% in the second quarter. Osaic Holdings Inc. now owns 11,566 shares of the company’s stock valued at $39,000 after purchasing an additional 8,211 shares during the last quarter. Finally, Hardin Capital Partners LLC grew its position in shares of New Fortress Energy by 50.0% in the second quarter. Hardin Capital Partners LLC now owns 15,000 shares of the company’s stock valued at $54,000 after purchasing an additional 5,000 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NFE has been the subject of a number of analyst reports. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the stock an “equal weight” rating in a research note on Tuesday, May 27th. Johnson Rice downgraded shares of New Fortress Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $7.00 to $4.00 in a research note on Wednesday, August 13th. Zacks Research upgraded shares of New Fortress Energy to a “hold” rating in a research note on Monday, August 11th. Capital One Financial reiterated an “underweight” rating on shares of New Fortress Energy in a research note on Monday, September 8th. Finally, New Street Research set a $8.50 target price on shares of New Fortress Energy in a research note on Monday, June 30th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, New Fortress Energy has an average rating of “Hold” and a consensus price target of $7.88.

New Fortress Energy Trading Up 44.9%

NASDAQ NFE opened at $2.00 on Wednesday. The stock has a market capitalization of $569.10 million, a P/E ratio of -0.52 and a beta of 0.99. New Fortress Energy has a 52-week low of $1.26 and a 52-week high of $16.66. The firm has a 50-day moving average price of $2.84 and a 200 day moving average price of $4.61. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 5.77.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Saturday, September 13th. The company reported ($2.02) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($1.38). New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%.During the same quarter last year, the business earned ($0.41) EPS. New Fortress Energy’s quarterly revenue was down 29.5% on a year-over-year basis. Equities research analysts expect that New Fortress Energy will post 0.36 EPS 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.