Mork Capital Management LLC Makes New Investment in New Fortress Energy Inc. (NASDAQ:NFE)

Mork Capital Management LLC purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,200 shares of the company's stock, valued at approximately $1,046,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of New Fortress Energy by 32.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,832 shares of the company's stock worth $22,239,000 after buying an additional 359,421 shares in the last quarter. Interval Partners LP bought a new position in shares of New Fortress Energy during the 4th quarter worth $1,453,000. J. Goldman & Co LP grew its position in shares of New Fortress Energy by 239.4% during the 4th quarter. J. Goldman & Co LP now owns 468,222 shares of the company's stock worth $7,080,000 after buying an additional 330,255 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of New Fortress Energy during the 4th quarter worth $640,000. Finally, Graham Capital Management L.P. bought a new stake in New Fortress Energy during the fourth quarter valued at about $524,000. Institutional investors own 58.61% of the company's stock.

New Fortress Energy Price Performance

Shares of New Fortress Energy stock traded up $0.15 on Friday, reaching $2.66. The company's stock had a trading volume of 40,456,939 shares, compared to its average volume of 5,599,109. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $728.23 million, a P/E ratio of 2.92 and a beta of 1.45. The stock has a 50-day moving average price of $6.97 and a 200-day moving average price of $10.38. New Fortress Energy Inc. has a 52-week low of $2.26 and a 52-week high of $27.65.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to analysts' expectations of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. Analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NFE shares. Morgan Stanley lowered their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus decreased 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 report on Tuesday, April 22nd. Citigroup reduced their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Insiders Place Their Bets

In related news, CFO Christopher S. Guinta acquired 5,000 shares of New Fortress Energy stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. The trade was a 2.48% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 29.40% of the stock is currently owned by company insiders.

New Fortress Energy 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.