Stock Traders Purchase Large Volume of Put Options on New Fortress Energy (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) was the target of some unusual options trading activity on Thursday. Investors bought 13,429 put options on the company. This is an increase of approximately 70% compared to the typical volume of 7,886 put options.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE traded down $0.49 on Thursday, hitting $9.85. The stock had a trading volume of 3,240,983 shares, compared to its average volume of 4,448,234. The firm’s 50 day moving average price is $13.57 and its 200-day moving average price is $11.59. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. New Fortress Energy has a twelve month low of $7.82 and a twelve month high of $34.40. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 10.84 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, equities research analysts predict that New Fortress Energy will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On New Fortress Energy

Large investors have recently bought and sold shares of the business. KBC Group NV boosted its stake in New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after purchasing an additional 1,852 shares in the last quarter. US Bancorp DE raised its holdings in shares of New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after buying an additional 2,767 shares during the last quarter. Allworth Financial LP lifted its position in New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after buying an additional 1,962 shares in the last quarter. GAMMA Investing LLC lifted its position in New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after buying an additional 2,370 shares in the last quarter. Finally, Quarry LP bought a new stake in New Fortress Energy during the 4th quarter worth about $64,000. 58.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on NFE shares. Stifel Nicolaus reduced their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley decreased their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.60.

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.