New Fortress Energy Target of Unusually Large Options Trading (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) was the target of some unusual options trading on Thursday. Investors bought 37,524 put options on the stock. This is an increase of approximately 220% compared to the average volume of 11,717 put options.

New Fortress Energy Trading Down 8.4%

New Fortress Energy stock traded down $0.25 during midday trading on Friday, reaching $2.74. 8,924,781 shares of the stock traded hands, compared to its average volume of 6,218,706. The firm has a market cap of $750.14 million, a PE ratio of 3.01 and a beta of 1.21. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a 50-day simple moving average of $4.58 and a two-hundred day simple moving average of $9.55. New Fortress Energy has a 12-month low of $2.26 and a 12-month high of $26.22.

Institutional Investors Weigh In On New Fortress Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after acquiring an additional 1,962 shares in the last quarter. Quarry LP purchased a new position in New Fortress Energy in the fourth quarter valued at $64,000. US Bancorp DE grew its stake in New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after purchasing an additional 1,126 shares in the last quarter. Ancora Advisors LLC purchased a new stake in New Fortress Energy during the 4th quarter worth about $91,000. Finally, SG Americas Securities LLC purchased a new stake in New Fortress Energy during the 4th quarter worth about $125,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NFE. BTIG Research set a $8.00 price target on New Fortress Energy and gave the stock a "buy" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research note on Wednesday, March 12th. Morgan Stanley set a $4.00 price target on shares of New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup lowered their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, New Fortress Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.17.

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.