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

New Fortress Energy Inc. (NASDAQ:NFE) was the recipient of some unusual options trading activity on Thursday. Investors acquired 13,766 call options on the company. This is an increase of 69% compared to the typical daily volume of 8,129 call options.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Primecap Management Co. CA increased its stake in shares of New Fortress Energy by 43.7% in the 3rd 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 increased its position in shares of New Fortress Energy by 7.1% in 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 stake in shares of New Fortress Energy by 9.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 4,797,308 shares of the company’s stock worth $105,445,000 after buying an additional 395,740 shares during the period. HITE Hedge Asset Management LLC lifted its position in shares of New Fortress Energy by 24.1% during 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 buying an additional 619,621 shares in the last quarter. Finally, Kailix Advisors LLC grew its stake in New Fortress Energy by 11.9% in the 2nd quarter. Kailix Advisors LLC now owns 2,203,824 shares of the company’s stock valued at $50,622,000 after acquiring an additional 234,371 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

NFE opened at $16.30 on Friday. The firm has a fifty day moving average price of $11.09 and a 200 day moving average price of $13.56. New Fortress Energy has a 1 year low of $7.82 and a 1 year high of $37.58. The stock has a market cap of $4.10 billion, a P/E ratio of 17.91 and a beta of 1.60. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

Analysts Set New Price Targets

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

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.