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

New Fortress Energy Inc. (NASDAQ:NFE) saw some unusual options trading on Thursday. Investors acquired 13,766 call options on the stock. This represents an increase of 69% compared to the typical volume of 8,129 call options.

New Fortress Energy Price Performance

NFE opened at $15.90 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The company’s 50-day moving average price is $11.23 and its 200 day moving average price is $13.53. New Fortress Energy has a fifty-two week low of $7.82 and a fifty-two week high of $37.58. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 17.47 and a beta of 1.60.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, December 4th. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. BTIG Research dropped their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, Stifel Nicolaus increased their price target on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.40.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its stake in shares of New Fortress Energy by 43.7% during the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock valued at $104,827,000 after purchasing an additional 3,505,975 shares in the last quarter. William Blair Investment Management LLC boosted its stake in New Fortress Energy by 7.1% during the second quarter. William Blair Investment Management LLC now owns 9,549,412 shares of the company’s stock valued at $209,896,000 after buying an additional 633,170 shares in the last quarter. Encompass Capital Advisors LLC raised its position in New Fortress Energy by 9.0% in the second quarter. Encompass Capital Advisors LLC now owns 4,797,308 shares of the company’s stock worth $105,445,000 after acquiring an additional 395,740 shares in the last quarter. HITE Hedge Asset Management LLC lifted its holdings in New Fortress Energy by 24.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company’s stock valued at $70,163,000 after acquiring an additional 619,621 shares during the last quarter. Finally, Kailix Advisors LLC boosted its position in shares of New Fortress Energy by 11.9% during the 2nd quarter. Kailix Advisors LLC now owns 2,203,824 shares of the company’s stock valued at $50,622,000 after purchasing an additional 234,371 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

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.