Point72 Asset Management L.P. Takes Position in New Fortress Energy Inc. (NASDAQ:NFE)

Point72 Asset Management L.P. purchased a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,000 shares of the company's stock, valued at approximately $2,268,000. Point72 Asset Management L.P. owned about 0.06% of New Fortress Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NFE. Hood River Capital Management LLC bought a new position in New Fortress Energy in the fourth quarter valued at approximately $155,023,000. Capital World Investors boosted its stake in New Fortress Energy by 87.9% in the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after acquiring an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC boosted its stake in New Fortress Energy by 40.8% in the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after acquiring an additional 4,509,177 shares during the last quarter. Vanguard Group Inc. boosted its stake in New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock valued at $171,147,000 after acquiring an additional 2,728,191 shares during the last quarter. Finally, Primecap Management Co. CA boosted its stake in New Fortress Energy by 13.6% in the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock valued at $198,027,000 after acquiring an additional 1,564,893 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

Insider Activity at New Fortress Energy

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the transaction, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 29.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research note on Wednesday, March 12th. Morgan Stanley cut their target price 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 cut their target price on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. BTIG Research set a $8.00 target price on shares of New Fortress Energy and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Citigroup cut their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.83.

New Fortress Energy Stock Down 1.1%

Shares of NASDAQ:NFE traded down $0.03 during midday trading on Friday, reaching $2.78. 6,162,232 shares of the company were exchanged, compared to its average volume of 5,890,337. New Fortress Energy Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $26.22. 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 stock has a fifty day simple moving average of $6.33 and a two-hundred day simple moving average of $10.17. The firm has a market cap of $761.09 million, a PE ratio of 3.05 and a beta of 1.45.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. As a group, sell-side analysts forecast that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

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.