Excelerate Energy, Inc. (NYSE:EE) Sees Large Drop in Short Interest
by Kim Johansen · The Markets DailyExcelerate Energy, Inc. (NYSE:EE – Get Free Report) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 939,408 shares, a drop of 27.4% from the January 15th total of 1,294,551 shares. Based on an average daily volume of 505,371 shares, the short-interest ratio is currently 1.9 days. Currently, 0.8% of the company’s shares are sold short. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 505,371 shares, the short-interest ratio is currently 1.9 days.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on EE. Wall Street Zen upgraded shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Northland Securities set a $50.00 price objective on shares of Excelerate Energy in a report on Friday, January 30th. Jefferies Financial Group raised their target price on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $44.00 target price on shares of Excelerate Energy in a research report on Friday, February 6th. Finally, Raymond James Financial upgraded Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.50.
View Our Latest Stock Analysis on EE
Excelerate Energy Price Performance
Shares of NYSE:EE traded up $1.47 during mid-day trading on Friday, reaching $41.83. The stock had a trading volume of 291,970 shares, compared to its average volume of 389,799. The business’s 50 day moving average price is $31.85 and its 200 day moving average price is $27.86. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.56. Excelerate Energy has a 1 year low of $21.28 and a 1 year high of $41.93. The company has a market cap of $4.77 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36.
Excelerate Energy declared that its board has authorized a share buyback plan on Thursday, December 11th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
Institutional Trading of Excelerate Energy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company purchased a new position in Excelerate Energy during the 4th quarter worth $205,000. Stifel Financial Corp acquired a new stake in Excelerate Energy in the fourth quarter worth about $1,926,000. Schroder Investment Management Group purchased a new stake in Excelerate Energy during the 4th quarter worth approximately $795,000. Essex Investment Management Co. LLC acquired a new position in Excelerate Energy during the 4th quarter valued at approximately $41,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Excelerate Energy by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 198,889 shares of the company’s stock worth $5,579,000 after buying an additional 1,220 shares during the last quarter. 21.79% of the stock is owned by hedge funds and other institutional investors.
About Excelerate Energy
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.