Investors Purchase High Volume of Put Options on New Fortress Energy (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) was the target of unusually large options trading on Thursday. Stock traders purchased 21,178 put options on the stock. This is an increase of approximately 120% compared to the typical volume of 9,628 put options.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NFE. Stifel Nicolaus decreased their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley lowered their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

New Fortress Energy Price Performance

NFE opened at $9.28 on Friday. The stock has a market capitalization of $2.54 billion, a PE ratio of 10.20 and a beta of 1.58. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The company’s 50 day simple moving average is $11.99 and its 200 day simple moving average is $11.34. New Fortress Energy has a 1 year low of $7.58 and a 1 year high of $30.80.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. As a group, sell-side analysts expect that New Fortress Energy will post 0.36 EPS for the current year.

Insider Transactions at New Fortress Energy

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price 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 in the company, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

Several institutional investors and hedge funds have recently modified their holdings of NFE. Rockefeller Capital Management L.P. grew its holdings in New Fortress Energy by 77.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 221,477 shares of the company’s stock valued at $2,013,000 after purchasing an additional 96,728 shares in the last quarter. Capstone Investment Advisors LLC grew its stake in shares of New Fortress Energy by 138.0% during the third quarter. Capstone Investment Advisors LLC now owns 26,551 shares of the company’s stock valued at $241,000 after acquiring an additional 15,395 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of New Fortress Energy during the third quarter worth about $101,000. Holocene Advisors LP lifted its stake in shares of New Fortress Energy by 107.2% in the third quarter. Holocene Advisors LP now owns 389,698 shares of the company’s stock worth $3,542,000 after acquiring an additional 201,649 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in New Fortress Energy by 26.7% in the third quarter. Janus Henderson Group PLC now owns 148,185 shares of the company’s stock valued at $1,347,000 after purchasing an additional 31,201 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

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.