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

Key Points

• New Fortress Energy saw a major spike in options trading, with a 428% increase in call options volume, totaling 62,318 contracts on Tuesday.
• The company reported a quarterly loss of ($2.02) EPS, significantly underperforming analysts' expectations of ($0.64) EPS and experiencing a 29.5% decline in revenue year-over-year.
• Despite recent rating changes from various analysts, the consensus rating for New Fortress Energy remains "Hold" with an average target price of $7.88.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors acquired 62,318 call options on the company. This represents an increase of 428% compared to the average daily volume of 11,792 call options.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. US Bancorp DE boosted its holdings in New Fortress Energy by 81.7% in the 1st quarter. US Bancorp DE now owns 8,534 shares of the company's stock worth $71,000 after buying an additional 3,838 shares during the period. CWM LLC boosted its holdings in New Fortress Energy by 46.9% in the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after buying an additional 2,895 shares during the period. IFP Advisors Inc boosted its holdings in 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 buying an additional 5,665 shares during the period. Hardin Capital Partners LLC bought a new position in New Fortress Energy in the 1st quarter worth $83,000. Finally, Apollon Wealth Management LLC bought a new position in New Fortress Energy in the 2nd quarter worth $33,000. Institutional investors own 58.61% of the company's stock.

New Fortress Energy Stock Performance

Shares of NASDAQ:NFE traded down $0.10 during midday trading on Friday, hitting $2.34. The company had a trading volume of 27,916,524 shares, compared to its average volume of 24,544,762. The company has a debt-to-equity ratio of 5.77, a current ratio of 0.67 and a quick ratio of 0.64. The company has a market cap of $665.85 million, a price-to-earnings ratio of -0.61 and a beta of 0.99. New Fortress Energy has a 12-month low of $1.26 and a 12-month high of $16.66. The company has a fifty day moving average of $2.75 and a two-hundred day moving average of $4.46.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its earnings results on Saturday, September 13th. The company reported ($2.02) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($1.38). New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%.The business's quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.41) earnings per share. On average, equities research analysts expect that New Fortress Energy will post 0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NFE has been the subject of a number of research reports. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Capital One Financial reiterated an "underweight" rating on shares of New Fortress Energy in a research note on Monday, September 8th. Zacks Research upgraded shares of New Fortress Energy to a "hold" rating in a research note on Monday, August 11th. Compass Point started coverage on shares of New Fortress Energy in a research note on Tuesday, July 1st. They set a "buy" rating and a $8.50 target price for the company. Finally, New Street Research set a $8.50 price objective on New Fortress Energy in a research note on Monday, June 30th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.88.

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.