Short Interest in Excelerate Energy, Inc. (NYSE:EE) Rises By 8.0%

Excelerate Energy, Inc. (NYSE:EE) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 943,600 shares, an increase of 8.0% from the January 15th total of 874,000 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily volume of 239,900 shares, the days-to-cover ratio is presently 3.9 days.

Excelerate Energy Stock Performance

Excelerate Energy stock traded up $0.21 during midday trading on Tuesday, reaching $29.33. The stock had a trading volume of 32,312 shares, compared to its average volume of 192,041. Excelerate Energy has a 12 month low of $13.39 and a 12 month high of $32.99. The firm’s 50-day moving average price is $30.55 and its 200 day moving average price is $25.73. The firm has a market capitalization of $3.12 billion, a PE ratio of 29.40, a P/E/G ratio of 1.96 and a beta of 1.41. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Excelerate Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Excelerate Energy during the 3rd quarter valued at about $161,000. US Bancorp DE purchased a new position in Excelerate Energy during the 3rd quarter valued at about $130,000. Van ECK Associates Corp grew its holdings in Excelerate Energy by 111.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,197 shares of the company’s stock valued at $380,000 after buying an additional 8,547 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Excelerate Energy during the 3rd quarter valued at about $214,000. Finally, Algert Global LLC grew its holdings in Excelerate Energy by 13.7% during the 3rd quarter. Algert Global LLC now owns 118,093 shares of the company’s stock valued at $2,599,000 after buying an additional 14,253 shares in the last quarter. 21.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EE has been the subject of several research reports. Wells Fargo & Company lifted their price target on shares of Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $31.00 price target (up previously from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Morgan Stanley reissued an “underweight” rating and issued a $29.00 price target (up previously from $25.00) on shares of Excelerate Energy in a research report on Friday, January 31st. Northland Securities lifted their price target on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Finally, Barclays raised their price objective on Excelerate Energy from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Excelerate Energy has a consensus rating of “Hold” and a consensus target price of $31.00.

About Excelerate Energy

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.