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

New Fortress Energy Inc. (NASDAQ:NFE) saw some unusual options trading on Thursday. Investors bought 21,178 put options on the stock. This represents an increase of approximately 120% compared to the typical daily volume of 9,628 put options.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $8.85 on Friday. New Fortress Energy has a one year low of $7.58 and a one year high of $30.80. The company has a market cap of $2.42 billion, a P/E ratio of 9.73 and a beta of 1.58. The firm has a 50-day moving average of $11.84 and a 200-day moving average of $11.33. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. The firm 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%. Equities research analysts forecast that New Fortress Energy will post 0.36 EPS for the current fiscal year.

Insider Activity at New Fortress Energy

In related news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 37.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its stake in New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares during the last quarter. GAMMA Investing LLC lifted its stake in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the last quarter. Quarry LP bought a new position in New Fortress Energy during the fourth quarter valued at $64,000. US Bancorp DE increased its position in New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after buying an additional 1,126 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of New Fortress Energy during the 4th quarter valued at $91,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley lowered 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, Stifel Nicolaus cut their price target on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

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.