Short Interest in Excelerate Energy, Inc. (NYSE:EE) Decreases By 27.4%

Excelerate Energy, Inc. (NYSE:EE) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 939,408 shares, a decrease 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 shares of the stock are sold short. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 505,371 shares, the short-interest ratio is currently 1.9 days.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Martingale Asset Management L P lifted its stake in shares of Excelerate Energy by 0.4% in the fourth quarter. Martingale Asset Management L P now owns 74,192 shares of the company’s stock worth $2,081,000 after buying an additional 281 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Excelerate Energy by 19.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock worth $61,000 after acquiring an additional 392 shares during the last quarter. Bailard Inc. boosted its holdings in Excelerate Energy by 1.6% during the third quarter. Bailard Inc. now owns 25,500 shares of the company’s stock valued at $642,000 after acquiring an additional 400 shares during the period. Summit Global Investments boosted its holdings in Excelerate Energy by 3.2% during the third quarter. Summit Global Investments now owns 12,973 shares of the company’s stock valued at $327,000 after acquiring an additional 406 shares during the period. Finally, New York State Teachers Retirement System grew its position in shares of Excelerate Energy by 32.8% in the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock valued at $52,000 after purchasing an additional 514 shares during the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Excelerate Energy from a “hold” rating to a “buy” rating in a report on Sunday, January 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a research note on Monday, December 29th. Northland Securities set a $50.00 price objective on Excelerate Energy in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $44.00 target price on shares of Excelerate Energy in a report on Friday, February 6th. Finally, Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target for the company in a report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Excelerate Energy Price Performance

Shares of EE opened at $41.83 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.39 and a current ratio of 2.39. The firm has a market cap of $4.77 billion, a PE ratio of 29.05, a PEG ratio of 1.29 and a beta of 1.36. The firm’s 50 day moving average price is $31.85 and its 200 day moving average price is $27.81. Excelerate Energy has a twelve month low of $21.28 and a twelve month high of $41.93.

Excelerate Energy announced that its Board of Directors has initiated a share buyback program on Thursday, December 11th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Excelerate Energy Company Profile

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.