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

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) was the target of unusually large options trading on Thursday. Stock investors acquired 37,524 put options on the company. This represents an increase of approximately 220% compared to the typical daily volume of 11,717 put options.

Analysts Set New Price Targets

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

Institutional Trading of New Fortress Energy

A number of hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its position in New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after acquiring an additional 1,962 shares in the last quarter. Quarry LP acquired a new stake in shares of New Fortress Energy during the 4th quarter worth approximately $64,000. US Bancorp DE increased its holdings in shares of New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after purchasing an additional 1,126 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $91,000. Finally, SG Americas Securities LLC acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $125,000. Hedge funds and other institutional investors own 58.61% of the company's stock.

New Fortress Energy Stock Performance

NASDAQ:NFE traded down $0.25 during mid-day trading on Friday, hitting $2.74. The company's stock had a trading volume of 8,924,781 shares, compared to its average volume of 6,251,266. The business's fifty day moving average is $4.52 and its two-hundred day moving average is $9.49. The stock has a market cap of $750.14 million, a price-to-earnings ratio of 3.01 and a beta of 1.21. New Fortress Energy has a 1 year low of $2.26 and a 1 year high of $26.22. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

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.