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

New Fortress Energy Inc. (NASDAQ:NFE) saw unusually large options trading activity on Thursday. Stock investors bought 21,178 put options on the stock. This is an increase of 120% compared to the average volume of 9,628 put options.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NFE. Morgan Stanley cut their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $15.00.

New Fortress Energy Stock Down 15.5 %

NFE stock traded down $1.72 on Thursday, reaching $9.36. 9,647,953 shares of the company traded hands, compared to its average volume of 4,111,997. The firm has a fifty day simple moving average of $12.12 and a 200-day simple moving average of $11.35. The company has a market cap of $2.56 billion, a P/E ratio of 10.27 and a beta of 1.58. New Fortress Energy has a one year low of $7.58 and a one year high of $30.80. 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 released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Research analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 37.10% of the stock is owned by insiders.

Institutional Investors Weigh In On New Fortress Energy

A number of large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its stake in shares of New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after buying an additional 1,962 shares during the last quarter. GAMMA Investing LLC boosted its position in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after purchasing an additional 2,370 shares during the last quarter. Quarry LP bought a new stake in shares of New Fortress Energy during the 4th quarter valued at about $64,000. US Bancorp DE increased its position in shares of New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new stake in shares of New Fortress Energy during the 4th quarter valued at about $91,000. 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.