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

New Fortress Energy LLC (NASDAQ:NFE) was the target of unusually large options trading activity on Friday. Stock traders acquired 51,229 call options on the company. This is an increase of approximately 179% compared to the typical volume of 18,336 call options.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Zacks Research cut shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Weiss Ratings restated a “sell (d)” rating on shares of New Fortress Energy in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.88.

New Fortress Energy Stock Performance

NFE stock traded up $0.08 during midday trading on Friday, reaching $1.78. The company had a trading volume of 32,659,473 shares, compared to its average volume of 11,706,373. The firm has a market capitalization of $505.08 million, a PE ratio of -0.46 and a beta of 1.05. The stock has a 50 day moving average price of $1.26 and a 200 day moving average price of $2.02. New Fortress Energy has a fifty-two week low of $0.98 and a fifty-two week high of $16.50. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.08.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Thursday, January 1st. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.40). New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.The company had revenue of $327.37 million for the quarter, compared to the consensus estimate of $716.89 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. New Fortress Energy’s quarterly revenue was down 42.3% compared to the same quarter last year. Analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On New Fortress Energy

Several large investors have recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in shares of New Fortress Energy during the first quarter valued at approximately $390,000. Goldman Sachs Group Inc. increased its stake in New Fortress Energy by 133.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company’s stock valued at $7,195,000 after buying an additional 494,848 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of New Fortress Energy by 42.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 280,706 shares of the company’s stock worth $2,333,000 after buying an additional 83,279 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of New Fortress Energy by 166.3% in the 2nd quarter. IFP Advisors Inc now owns 9,072 shares of the company’s stock worth $30,000 after acquiring an additional 5,665 shares during the period. Finally, Apollon Wealth Management LLC bought a new position in shares of New Fortress Energy in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

About New Fortress Energy

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.