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

Key Points

• New Fortress Energy experienced a significant increase in call options trading, with 66,582 contracts bought, representing a 361% rise from the usual volume.
• Several analysts have downgraded the stock, with Zacks Research lowering it from "hold" to a "strong sell" and Johnson Rice reducing its target price to $4.00.
• The company's stock has been volatile, trading up 14.4% recently, with shares currently priced at $1.35, reflecting a substantial drop from its 12-month high of $16.66.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors bought 66,582 call options on the company. This is an increase of 361% compared to the typical volume of 14,453 call options.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NFE. Zacks Research lowered shares of New Fortress Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, October 6th. Johnson Rice cut shares of New Fortress Energy from a "buy" rating to a "hold" rating and cut their target price for the company from $7.00 to $4.00 in a report on Wednesday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of New Fortress Energy in a research report on Tuesday, October 14th. Finally, Capital One Financial reiterated an "underweight" rating on shares of New Fortress Energy in a research report on Monday, September 8th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, New Fortress Energy currently has an average rating of "Hold" and an average target price of $7.88.

Institutional Investors Weigh In On New Fortress Energy

Large investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of New Fortress Energy during the third quarter worth about $29,000. IFP Advisors Inc increased its stake in shares of New Fortress Energy by 166.3% in the 2nd quarter. IFP Advisors Inc now owns 9,072 shares of the company's stock valued at $30,000 after purchasing an additional 5,665 shares during the last quarter. one8zero8 LLC bought a new position in shares of New Fortress Energy in the 3rd quarter valued at $31,000. Apollon Wealth Management LLC acquired a new stake in shares of New Fortress Energy during the 2nd quarter valued at $33,000. Finally, MQS Management LLC acquired a new position in shares of New Fortress Energy in the 2nd quarter valued at about $33,000. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Trading Up 14.4%

NFE traded up $0.17 during trading on Tuesday, reaching $1.35. The company had a trading volume of 81,769,514 shares, compared to its average volume of 11,737,323. New Fortress Energy has a 12-month low of $1.17 and a 12-month high of $16.66. The company has a market cap of $384.14 million, a price-to-earnings ratio of -0.35 and a beta of 1.20. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.64 and a current ratio of 0.67. The firm's 50-day simple moving average is $2.01 and its 200 day simple moving average is $3.05.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its earnings results on Wednesday, June 18th. The company reported $0.13 earnings per share for the quarter. The firm had revenue of $679.00 million during the quarter. New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%. Equities research analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current year.

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.

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