Short Interest in Excelerate Energy, Inc. (NYSE:EE) Expands By 33.5%

Key Points

• Short interest jumped 33.5% in March to 1,892,975 shares (about 1.7% of the stock), producing a days-to-cover ratio of 3.5 based on average volume.
• Insider sale: Oliver Simpson sold 6,000 shares for roughly $204,900 on March 20, reducing his holdings to 51,719 shares; corporate insiders own about 1.83% of EE.
• Fundamentals & analyst outlook: EE missed quarterly EPS by $0.01 ($0.29 vs. $0.30) while revenue rose 15.6% year-over-year; analysts' consensus is a "Moderate Buy" with an average target of $39.00.

Excelerate Energy, Inc. (NYSE:EE - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totaling 1,892,975 shares, a growth of 33.5% from the March 15th total of 1,417,543 shares. Based on an average daily trading volume, of 545,531 shares, the days-to-cover ratio is currently 3.5 days. Approximately 1.7% of the company's stock are short sold.

Insider Buying and Selling at Excelerate Energy

In related news, insider Oliver Simpson sold 6,000 shares of the firm's stock in a transaction on Friday, March 20th. The shares were sold at an average price of $34.15, for a total value of $204,900.00. Following the completion of the transaction, the insider directly owned 51,719 shares of the company's stock, valued at approximately $1,766,203.85. This trade represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.83% of the company's stock.

Institutional Trading of Excelerate Energy

Several institutional investors have recently added to or reduced their stakes in EE. Arax Advisory Partners boosted its stake in Excelerate Energy by 791.9% in the 4th quarter. Arax Advisory Partners now owns 883 shares of the company's stock valued at $25,000 after purchasing an additional 784 shares during the period. State of Alaska Department of Revenue bought a new stake in Excelerate Energy in the 3rd quarter valued at $30,000. Global Retirement Partners LLC bought a new stake in Excelerate Energy in the 4th quarter valued at $33,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Excelerate Energy during the 3rd quarter valued at $38,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Excelerate Energy during the 4th quarter valued at $41,000. 21.79% of the stock is currently owned by institutional investors.

Excelerate Energy Stock Performance

EE traded up $0.86 during trading on Friday, hitting $34.92. The stock had a trading volume of 199,759 shares, compared to its average volume of 461,477. The company has a 50 day moving average price of $36.67 and a 200-day moving average price of $31.47. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 1.08 and a beta of 1.41. Excelerate Energy has a one year low of $21.28 and a one year high of $43.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.43 and a quick ratio of 2.43.

Excelerate Energy (NYSE:EE - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $317.57 million during the quarter, compared to the consensus estimate of $293.49 million. Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The business's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, research analysts predict that Excelerate Energy will post 1.16 EPS for the current year.

Excelerate Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Wednesday, March 11th were paid a $0.08 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.32 annualized dividend and a yield of 0.9%. Excelerate Energy's payout ratio is 24.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EE shares. Wells Fargo & Company boosted their target price on Excelerate Energy from $29.00 to $39.00 and gave the stock an "equal weight" rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $44.00 target price on shares of Excelerate Energy in a report on Friday, February 6th. Barclays boosted their target price on Excelerate Energy from $33.00 to $41.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Excelerate Energy in a report on Friday, March 27th. Finally, Jefferies Financial Group boosted their target price on Excelerate Energy from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Excelerate Energy has an average rating of "Moderate Buy" and an average target price of $39.00.

Excelerate Energy Company Profile

Excelerate Energy NYSE: EE is a Houston‐based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy's integrated platform also includes specialized LNG carriers, proprietary regasification technology and on‐shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.

Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.

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