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

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) saw some unusual options trading activity on Thursday. Investors bought 13,766 call options on the company. This represents an increase of 69% compared to the typical daily volume of 8,129 call options.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NFE. Stifel Nicolaus lifted their price target on New Fortress Energy from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. BTIG Research reduced their target price on New Fortress Energy from $35.00 to $15.00 and set a "buy" rating for the company in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price target on the stock in a report on Wednesday, December 4th. Finally, Morgan Stanley cut shares of New Fortress Energy from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $15.40.

New Fortress Energy Price Performance

NFE stock traded up $1.18 during mid-day trading on Thursday, hitting $16.30. 7,520,707 shares of the stock were exchanged, compared to its average volume of 3,275,731. The business has a fifty day moving average price of $11.09 and a 200 day moving average price of $13.56. New Fortress Energy has a 12 month low of $7.82 and a 12 month high of $37.58. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 17.91 and a beta of 1.60.

Institutional Trading of New Fortress Energy

A number of hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of New Fortress Energy in the third quarter worth about $25,000. KBC Group NV increased its stake in New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company's stock worth $31,000 after purchasing an additional 1,852 shares during the period. US Bancorp DE lifted its position in New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company's stock valued at $32,000 after purchasing an additional 2,767 shares during the last quarter. Signaturefd LLC boosted its stake in shares of New Fortress Energy by 409.1% during the third quarter. Signaturefd LLC now owns 4,124 shares of the company's stock valued at $37,000 after purchasing an additional 3,314 shares during the period. Finally, Quarry LP increased its stake in shares of New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company's stock worth $49,000 after buying an additional 1,253 shares during the period. Institutional investors own 58.61% of the company's stock.

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.