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

New Fortress Energy Inc. (NASDAQ:NFE) saw unusually large options trading on Thursday. Investors purchased 13,766 call options on the company. This is an increase of 69% compared to the average volume of 8,129 call options.

Analyst Ratings Changes

NFE has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research report on Wednesday, December 4th. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Finally, BTIG Research reduced their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.40.

Institutional Investors Weigh In On New Fortress Energy

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

New Fortress Energy Trading Down 2.5 %

NASDAQ NFE opened at $15.90 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. New Fortress Energy has a 1-year low of $7.82 and a 1-year high of $37.58. The firm’s fifty day simple moving average is $11.23 and its 200-day simple moving average is $13.53. The company has a market capitalization of $4.00 billion, a PE ratio of 17.47 and a beta of 1.60.

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.