Traders Purchase High Volume of Call Options on New Fortress Energy (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) was the recipient of unusually large options trading on Thursday. Stock traders bought 13,766 call options on the stock. This is an increase of 69% compared to the average daily volume of 8,129 call options.

New Fortress Energy Price Performance

NFE stock traded up $0.77 during trading hours on Thursday, hitting $15.89. 3,068,267 shares of the stock traded hands, compared to its average volume of 3,275,731. New Fortress Energy has a one year low of $7.82 and a one year high of $37.58. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a market cap of $4.00 billion, a P/E ratio of 17.46 and a beta of 1.60. The stock has a 50-day simple moving average of $10.94 and a 200 day simple moving average of $13.54.

Wall Street Analysts Forecast Growth

NFE has been the topic of a number of research reports. Morgan Stanley lowered New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Stifel Nicolaus upped their price target 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 target price for the company in a research report on Wednesday, December 4th. Finally, BTIG Research reduced their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Three investment 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 stock has a consensus rating of “Hold” and an average target price of $15.40.

Institutional Trading of New Fortress Energy

A number of hedge funds have recently modified their holdings of NFE. nVerses Capital LLC acquired a new position in New Fortress Energy during the 3rd quarter valued at $25,000. KBC Group NV increased its holdings in shares of New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares in the last quarter. US Bancorp DE lifted its stake in shares of New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after acquiring an additional 2,767 shares during the period. Signaturefd LLC raised its stake in shares of New Fortress Energy by 409.1% during the third quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after buying an additional 3,314 shares during the last quarter. Finally, Quarry LP boosted its stake in New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after acquiring an additional 1,253 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.