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

New Fortress Energy LLC (NASDAQ:NFE) saw unusually large options trading activity on Monday. Stock investors bought 19,996 call options on the stock. This represents an increase of approximately 25% compared to the average daily volume of 16,023 call options.

Hedge Funds Weigh In On New Fortress Energy

Hedge funds have recently bought and sold shares of the company. US Bancorp DE boosted its stake in New Fortress Energy by 81.7% in the first quarter. US Bancorp DE now owns 8,534 shares of the company’s stock valued at $71,000 after buying an additional 3,838 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of New Fortress Energy by 166.3% in the second 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 last quarter. Apollon Wealth Management LLC acquired a new stake in shares of New Fortress Energy in the 2nd quarter valued at approximately $33,000. MQS Management LLC acquired a new stake in shares of New Fortress Energy in the 2nd quarter valued at approximately $33,000. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of New Fortress Energy during the 1st quarter valued at approximately $84,000. 58.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NFE has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of New Fortress Energy in a report on Tuesday, October 14th. Zacks Research downgraded shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Capital One Financial reissued an “underweight” rating on shares of New Fortress Energy in a research note on Monday, September 8th. Finally, Johnson Rice downgraded shares of New Fortress Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $7.00 to $4.00 in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.88.

New Fortress Energy Stock Performance

NFE opened at $1.24 on Wednesday. The business’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $2.41. New Fortress Energy has a 52-week low of $0.98 and a 52-week high of $16.66. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.15 and a current ratio of 0.17. The firm has a market capitalization of $352.84 million, a PE ratio of -0.32 and a beta of 1.11.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Wednesday, June 18th. The company reported $0.13 earnings per share for the quarter. New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The company had revenue of $679.00 million for the quarter. As a group, sell-side analysts expect that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

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.