Investors Buy High Volume of Call Options on New Fortress Energy (NASDAQ:NFE)

New Fortress Energy LLC (NASDAQ:NFE) was the recipient of some unusual options trading on Tuesday. Investors bought 66,582 call options on the stock. This represents an increase of approximately 361% compared to the typical daily volume of 14,453 call options.

Institutional Trading of New Fortress Energy

Hedge funds have recently modified their holdings of the company. 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 worth $7,195,000 after acquiring an additional 494,848 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of New Fortress Energy by 38.5% during the second quarter. Catalyst Capital Advisors LLC now owns 1,258,485 shares of the company’s stock worth $4,178,000 after acquiring an additional 350,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of New Fortress Energy by 14.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,679,057 shares of the company’s stock worth $13,953,000 after acquiring an additional 208,225 shares during the last quarter. Deutsche Bank AG boosted its position in New Fortress Energy by 118.5% in the first quarter. Deutsche Bank AG now owns 186,180 shares of the company’s stock valued at $1,547,000 after buying an additional 100,974 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in New Fortress Energy in the first quarter valued at approximately $2,692,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on NFE shares. Johnson Rice downgraded shares of New Fortress Energy from a “buy” rating to a “hold” rating and cut their target price for the company from $7.00 to $4.00 in a research report on Wednesday, August 13th. Zacks Research downgraded shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of New Fortress Energy in a research note on Tuesday, October 14th. Finally, Capital One Financial restated an “underweight” rating on shares of New Fortress Energy in a report on Monday, September 8th. Three equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.88.

New Fortress Energy Stock Performance

NFE stock opened at $1.35 on Wednesday. The firm has a market cap of $384.14 million, a price-to-earnings ratio of -0.35 and a beta of 1.20. The firm has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $3.02. New Fortress Energy has a one year low of $1.17 and a one year high of $16.66. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.64 and a current ratio of 0.67.

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

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.